When I started to look closely into Debt Consolidation Companies, I was shocked to realise just how many scams and underhanded tactics were being used to 'hook' the unsuspecting victim right into their financial nets.
Many Debt Consolidation Companies I fear, are preying on the vulnerability of people caught in a financial nightmare and have no idea where to turn or to whom.
For instance, they push the term 'non profit'.
Sounds great for the customer doesn't it? Well, take it from me, the FTC and the IRS is investigating many companies for their supposed 'non profit' status.
Do not literally think that the organisation is not going to make any money out of you.
They probably are! The other main concern that was bought to my attention, was the pressure put upon the sales team to meet targets.
It is almost forcing sales personnel to be dishonest and unscrupulous just to get the sales.
Finding a Debt Consolidation Company that had every box ticked on my list was virtually impossible (notice I said virtually).
It seemed that if they were particularly good in one area they were poor in another.
So what should you look for? The main thing you should always look for is advocates for the service (satisfied customers willing to endorse the products/services).
Only by speaking or reading their reviews can you ever truly know if a company is worth it's salt.
Remember, it's no good being taken in by the 'sales pitch' of a debt consolidation company, after all they can say anything positive to draw you in - it doesn't mean it's necessarily true! Trust the public, they are the one's that have experienced the service.
There are many forums on the internet where people will tell of their experiences with debt consolidation companies.
These are a wealth of knowledge, and a little homework done up front could save you a fortune in the future.