Debt relief assistance for credit card debt may be available to certain consumers through various debt counseling services and nonprofit organizations. Credit card debt is quite common among many in our nation, and there are signs which indicate some consumers may simply be unable to manage their credit card debt by themselves.
Evidence for this comes from consumers who have credit card debt and only meet minimum monthly payments, which allows for higher costs to be levied against cardholders, or simply shift debt around through consolidation loans or credit card balance transfers.
Yet, some individuals have come upon a difficult financial time in their life and have seen their credit card debts get out of hand, meaning they are unable to meet even minimal monthly payments in some cases. Obviously, consumers have been seeking ways to avoid missing payments or defaulting on credit card debt, as a cardholder’s credit score will suffer damage if this occurs.
For this reason, there have been numerous cardholders who have consulted credit card debt counseling services or nonprofit counseling assistance agencies. There are various local, state, and even national credit card debt relief services available, but there have been warnings that some fraudulent companies may be attempting to take advantage of those who have a high amount of credit card debt.
Sources like the FTC warn against dealing with companies who attempt to charge costs upfront, which is a practice that is now disallowed for credit counseling services. There are also warnings against companies or organizations who advise consumers to stop paying their debt or to begin making payments through that specific company.
There are reputable debt relief programs for credit card debt from debt counseling services or nonprofit organizations, but consumers are often advised to research companies which they feel could help them with their debt situation. While there have been some cardholders who have talked directly with their credit card company and have found payment solutions as a result, individuals who need outside assistance have been cautioned as of late against fraudulent companies who may not have their best interests in mind.