With personal debt being one of the biggest problems facing people these days knowing the facts can save you a lot of headaches and money.
Debt relief can work, but only in the hands of a professional, one who knows what they are doing.
How can you determine who is that professional? Read further to find out.
A known fact is only 40% of the customers that sign with a debt relief company ever complete the program, compare that with 90% that go with a lawyer.
Precaution #1 - if the debt relief company tells you the lenders will stop calling you if you enter their program, beware.
The truth is they don't have to, but if you are paying on time why would they.
The point here is did the debt relief company tell you the truth up front.
Precaution #2 - if they are asking for heavy up front fees check with your lenders before you sign.
The reason is once these fees are collected and the preceding fees are paid the incentive to help you is lowered.
There are many cases surfacing where the debt company just disappears and so does your deposit.
You are still left with the debt and a lot less money, the lenders won't care.
There are ways a lawyer or even you can stop a collector from calling your house.
The collectors can mail you because they have the right to correspond with you for the debt owed, but you can stop the phone calls.
Whatever action you take make sure every thing you do is in writing.
This is a common mistake because of the emotional nature debt takes on a person.
Find a friend who can think clearly and take them with you so they make sure you are covered with paperwork.
For more options about debt and what you can do to solve this problem.