Erasing Credit Card Debt–Are National Debt Relief Programs And Nonprofit Credit Counselors Helpful?

Consumers who are concerned about erasing their credit card debt often look for debt relief programs or credit counselors in order to assist them in formulating a repayment plan or negotiating debt. Various debt relief programs on a national level or nonprofit credit counseling agencies can be helpful for some, but there are numerous ways which debt can be negotiated or erased.

Some advisers have suggested that consumers talk directly with their creditors about lower interest rates, more affordable payments, or even debt forgiveness in some cases. However, there are, again, nonprofit credit counseling agencies which could help formulate a repayment plan or offer advice when it comes to dealing with creditors.

Consumers have been warned, though, that certain fraudulent debt relief companies have advertised their services or contacted consumers to offer assistance when it comes to erasing credit card debt. Some of these companies, which could cost more over the long run or simply scam consumers out of money, have caused numerous individuals a great deal of trouble in their financial life. Sources like the FTC often warn about using companies who charge upfront fees, ask that payments be made directly through their company, or promise to eliminate debts, as institutions who implement these policies may be fraudulent.

Yet, not all national debt relief programs, companies, or nonprofit credit counselors are unhelpful when it comes to dealing with creditors or erasing credit card debt. However, any company which a consumer considers using to help them with their credit situation should be researched beforehand. Sources like the Better Business Bureau or simply running a Google search can and should be consulted before a consumer begins to interact with a service concerning credit card debt relief.