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Posts tagged ‘debt settlement scams’

How can you avoid debt settlement scams?

Debt settlement companies have mushroomed all over the world promising you to pull you out of your hefty debts easily. In such a scenario, many people are doubtful of the authenticity of their services because more often than not, most of these companies turn out to be scams. Sure, there are genuine settlement companies out there to help you out, but you have to be careful before enrolling yourself with their services.

If you want to be sure that you are not falling prey to a scam debt settlement company, then you just have to keep a few simple points in mind. Read on to know.

1) Most of the scam companies would misinform you about the services that they offer. They would ask you to sign up with them instantly and then they will put you under extremely long programs to clear your debts. A genuine debt settlement company would study your financial situation properly and then decide the best program for you.

2) One of the most important points that you should keep in mind is that fraud debt settlement companies will ask you to sign up with them over the phone without any enrollment fee. In case you enroll with them, you will likely fall into more debt because they will squeeze out more money from you but will do nothing to alleviate your debt problems.

3) If you see that the company is not responding to your questions, then you know that you have to bid them goodbye. They do this because they are obviously trying to hide something from you. On the other hand, a good debt settlement company would always want you to be informed before you sign up. Find out every minute detail possible about the company.

4) Ask for references. Talk to the previous clients of the company to know how their experience was. Do not sign up with the company until you read all their terms and conditions properly, including the fine print.

5) Check with the Better Business Bureau (BBB). A business registered with them would be a genuine one. If the company is registered with them, you can safely sign up with that company.

So, do your homework properly and you will reduce your chances of getting scammed. Do your own investigation in order to make sure that you choose the right debt settlement company for yourself.