How To Hire a Debt Consolidator

It is very important to research the company you wish to employ to help you with your debt before signing any paperwork or submitting any information.  These are your finances and you must be diligent that you trust the right people to handle them.

Begin by checking with the Better Business Bureau, online consumer complaint websites and even running the company's name through a search engine.  You will find out a lot of information this way.  If there are many dissatisfied customers, this should send off warning signals; you may need to move on to the next company.  Another thing that must be checked in this area is the business’ right to practice in your state.  Many online companies offer services “nationwide” but in reality are only licensed to practice in their area.  Make sure the company you choose is fully licensed and insured to practice in your area.

Next check the company's credentials.  What makes this company or their employees qualified to handle your debt problems?  Are they simply putting information into a program that tells them the next step to do, or are the employees educated and trained in financial matters?  Better trained personnel often result in better outcomes for their customers.

What are the fees and other associated costs of the program?  Go through this aspect carefully.  Some companies charge on a percentage of your overall debt, others charge a flat fee, while still others charge a fee plus a monthly maintenance plan.  Be sure you fully understand all of the charges and what each charge guarantee’s you.  Never pay one of these companies up front for their services.

Finally, ask around.  In today’s economic climate you can guarantee that you are not the only one who is need of a debt consolidator.  Find out from family, friends and co-workers which companies they have used and their experience with those companies.  Many times you will get the best, and most honest, answers from people you know rather than from opinion sites.

Following these simple steps can almost guarantee that when you do hire a bill consolidator to help you, it will be the right one.  A little bit of time and research can go a long way in getting you back on the road to financial recovery.


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