Many consumers have had difficulty with debt over the past months, or even years, as troubling financial times have hit many in their personal life. Yet, when it comes to erasing debt, understandably, consumers are looking for ways which they can erase debt as quickly as possible, but this has drawn many into national consumer debt relief program that are, in essence, scams.
While consumers suffer from various debts like personal loan or credit card debt, debt relief programs often promise or guarantee debt relief options that are simply only available directly from creditors. The Federal Trade Commission warns against companies who promise to settle debt for mere pennies on the dollar, asks that consumers make payments through their company to creditors, or advises consumers to stop making payments altogether.
Yet, it needs to be understood, that not all national debt relief programs or companies who promise consumer debt relief options are fraudulent. There are many nonprofit organizations and reputable debt counseling agencies that can help consumers with various debts, again like credit card debt or personal loan debt, but caution is advised when it comes to any agency promising to erase debt quickly.
Some credit counselors can help consumers deal with their creditors, but it comes down to research for the consumer and credibility on the part of the debt relief program. Again, companies that advertise easy national consumer debt relief programs they have a consumer’s best interest at heart, but there are scams that have been perpetrated against many which have caused a great deal of trouble in the financial lives of numerous individuals.
Consumers who are looking for debt relief programs or who may find advertisements for national debt relief assistance, often are advised to look at what the program offers, research online concerning the credibility of the company, and consult sources like the Better Business Bureau to see if such a company is fraudulent or an actual helpful resource for consumers who are in need of debt relief assistance.