There are some key things to be aware of when choosing and dealing with a debt management agency to achieve debt resolution:
- Debt management agencies can be either for profit or not for profit. This will of course affect the fees you will pay. Not for profit agencies are not government agencies, but are rather supported by the credit card companies and other creditors because of their good relationships with those creditors.
- There are companies that claim to be not for profit but are really for profit. Beware. They could me trying to trick you into thinking that their fees are the best that you will find, when they’re probably not.
- You most likely will not want to deal with an agency that won’t put everything in writing. Carefully review the written contracts and make sure that they represent what you think you are getting.
- Watch for companies that try to tack on special filing fees, analysis fees, or any other kind of fee that is not part of an overall written contract. Check with the Better Business Bureau or someone who can give testimonials. These are not guarantees of a good debt management company, but they could help warn of a bad one.
Entering into a Debt Management Plan is a big financial step. Credit-yogi.com can help you take great care every step of the way, and check the progress of the plan every month. You will be making great strides in your effort to become debt free.
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