How are Debt Relief Programs Legitimate?

If you are carrying a debt balance, you may have considered exploring debt relief services. Debt relief companies negotiate with creditors to establish lower payments or better payment terms, on the consumer’s behalf.  If negotiated successfully, a consumer will generally pay back a fraction of the balance owed (principal and or financing costs).  

However, with these kinds of benefits, you may be wondering how legitimate debt relief programs are.

Firstly, when searching for a debt relief program, be discerning. Repayment of financial debt can be an arduous process, so it is important to get a quality debt relief company on your side to help you navigate and negotiate. 

When looking for a debt relief program, consider how many products they offer. 
It may seem logical to go with a company that only offers a single product, such as debt settlement or loan financing, but that company is more likely to push consumers into buying a specific product. On the other hand, companies that offer a variety of solutions will be better incentivized to present a program or product that best suits the consumer’s needs.  

Every debt relief solution has pros and cons. 
Some debt repayment programs can preserve your credit score, but will require a higher monthly payment. A second program may be able to obtain super affordable monthly payments, but will likely impact the credit score. Still, a third option could be getting a client low payment with no credit damage, but that may require taking out a new loan with high interest. If your debt relief company is not upfront with the pros and cons, they may night have your best interests in mind. 


Utilize their free debt consultation & resources
Another thing to look for is an offer for a free debt review. Most reputable companies that are offering consumers debt help will provide a free consultation or debt analysis ahead of program enrollment. This will give the consumer an opportunity to hear about the programs available, learn about eligibility and calculate a new and affordable monthly payment.  
A debt company invested in getting the customers out of debt and helping them stay out of debt will have plenty of educational tools to help them develop better financial habits. Take the time to explore those resources and develop a savvy financial plan of your own!
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Investigate business ratings and reviews
Finally, you should consider the company’s business rating and its reviews. The Better Business Bureau rates businesses.  The initial rating is an A+. However, it is difficult for businesses to keep the A+ rating, so a business that has maintained its positive rating will be a good company to work with. On top of that, you also want to consider the reviews. Every company will have negative reviews, but it is important to see how it handles them. Does the company offer solutions to the client, complain, or ignore it? The way the company responds to these public reviews will tell you a lot about how they run their business.
If you are looking for a debt relief company that can help you navigate the delicate process of getting out of debt for an affordable price, Golden State Debt Management is a great place to start. Please contact us at 844-249-2366 to speak to a debt help representative.   We have maintained an A+ rating with the BBB for almost 20 years and are happy to offer new clients a free debt analysis.