Credit Card Debt
Credit card debt is one of the ugliest kinds of debt out there, and if you’re not careful, it can quickly get you into trouble. Getting out of debt is not easy, but it is something that needs to be addressed. The longer you wait to deal with the problem, the harder it will be to resolve it. While credit cards have their advantages, you need to be responsible when using them. The key is to be conservative in your approach to debt.
Most people have no idea how much their credit card interest is actually costing them, but if you regularly carry a balance, you will likely pay more in interest than you did on your original purchase.
Dealing with debt is not something you have to do alone. You can seek the help of a debt relief company, but keep in mind that not all debt relief companies are the same. There are plenty of shady businesses out there that give honest debt resolution companies a bad reputation. The bad companies may sound legitimate at first, but they can end up costing you more money in the end, even bringing you financial harm. Learn how to sort out the bad ones from the good.
How to tell a good company from a bad one
- A good debt resolution company will thoroughly review your situation, evaluate whether you are a good fit for their program, and give you your best options for dealing with debt.
Not everyone benefits from debt resolution. For some, another debt relief option may be more suitable. A good debt resolution company will not only find out what lead to your financial hardship but will also evaluate whether the program can help you better your finances in the long-run. If you are not a good fit for debt resolution, the company will refer you to other resources that could help.
- A good debt resolution company will openly discuss the pros and cons of debt resolution and explain the risks to you.
As with all debt relief options, there are both positives and negatives. A reputable company will be honest with you from the beginning without misrepresenting the debt resolution process. On the other hand, a bad company will gloss over any disclosures and only highlight the positives of debt resolution.
- A good debt resolution company will not charge any fees until you complete a settlement.
Bad companies will charge you fees BEFORE they get you any results. If you encounter a company like this, steer clear! Good companies will want you to think carefully before enrolling in their program and encourage you to make the decision that’s right for you.
- A good debt resolution company will be accredited by the American Fair Credit Council (AFCC), an association dedicated to supporting consumers with overwhelming credit and debt problems, promoting and adhering to best practices in the credit advocacy industry. Currently, there are fewer than 20 companies in the entire country formally accredited by the AFCC.
How to Choose a Company
Shop around. It really pays to do your homework. Choosing a debt relief partner isn’t a decision you should take lightly. Take the time to do your research and choose a company that has your best interests at heart.
Reputation is everything. Good companies offering debt relief will have a proven track record of success. They will be able to provide you with an honest assessment of the positives AND negatives of debt relief for your situation. It is extremely important to choose a reputable company, one that will become your partner in getting your finances back on track.
Good customer service speaks volumes. The training and skills of employees can mean the difference between effective and shoddy debt relief. You can expect that if a representative is unprofessional in the way he/she communicates with you, the service you’ll receive in the program will be unprofessional too.
Don’t pay until you see results! Some companies require you to pay upfront, but how in the world does that make sense? If you are in debt, you probably don’t have the extra money to spare. You shouldn’t have to pay until you see some results!
If it sounds too good to be true, it probably is. No company is able to guarantee that your debt will be completely eliminated. There is no such thing as a magic solution to your debt problems because the road to financial recovery is not easy and often takes time. Check out the terms of the program and figure out all costs before signing up with a company.
The bottom line is you need to feel confident with the company you go with. This is a crucial decision because the right company can help you effectively reduce your debt. Going with the wrong company could cost you more money than you owed in the first place.
Review all of your options carefully before deciding which debt relief partner is right for you. Working with a reputable debt resolution company can give you the tools and support you need in order to be successful. CuraDebt is one of the few debt relief companies in America accredited by the AFCC.