National Debt Relief Programs And Counseling–Are Debt Assistance Services Available For Consumers?

More consumers are looking for national debt relief services and programs which can help them to erase various forms of debt. Typically, advertisements can easily be found for debt relief services offered to help individuals rid themselves of credit card debt or personal loan debt, among other things, but there is concern over some organizations who may be operating scams against individuals looking for debt assistance.

While the term national debt relief is something that is common to companies who may have offices or offer services around the nation, there is no federal debt relief legislation or program that is offered like home loan modification plans which can assist homeowners when it comes to dealing with mortgage debt.

However, there are debt relief programs and nonprofit counseling organizations that can assist consumers when it comes to their personal debt situation. Credit counselors or debt relief services typically work by assisting consumers in formulating a repayment plan or explains the options that may be available when it comes to handling their debt.

Yet, there is caution against services that charge consumers for their counseling or advice, request that consumers make payments directly through their organization, or promise to erase various consumer debts for much less than an individual may owe.

Some of these debt relief companies claim they can assist consumers through lowering debt or erasing debt, but creditors, in the majority of cases, are the only ones who can forgive debt or lower overall costs. While consumers can contact their creditors directly and talk over debt relief options, organizations that guarantee they can erase a consumer’s debt for much less than is owed may be fraudulent in nature.

While, again, there are nonprofit organizations and debt relief services that can be helpful for consumers in need of debt counseling, but researching these organizations through sources like the Better Business Bureau or simply running a Google search is often advised before working with any of these services.