As a consumer you need to be both careful and strategic when checking out debt management possibilities. There are many financial products out there to help you with your financial recovery, with debt management being one of the most popular consumer choices.
An ethical established debt management company can help you the customer to turn your life back around. This is assuming that they have your best interests at heart. Although the debt regulation industry is under tight regulation, it is still possible to encounter an unethical debt management company but if you follow these five steps you should avoid this.
1. Unavailable Counselors
If you find that the debt counselors are unavailable this can of course be genuine, but in quite a few cases this lack of availability can be a bad sign. Combined with some of the other signs you will read about, it should ring alarm bells in your head.
However it is really the opposite you should be hoping for, because a decent company will want to ensure you understand all aspects of what you may be committing yourself to.
2. Lack Of Information
If you find that the company is not giving you fee information upfront then be super wary! There may be fees disguised in the small print, and fees that they fail to mention. Do not be afraid to follow up on this issue and now that you’ve made the decision to use a specialist, don’t panic and go with an unethical choice.
As you are making a life altering decision avoid companies who demonstrate a weird attitude about giving information.
3. Comments Which Are Negative
There should be customer comments around online so please take a short time to read these. You will want to be guided by the experience of others.
It’s unlikely you’d stay in a hotel that your family had said was dirty!
4. Very High Fees
Before signing anything ensure you are comfortable with the fee structure. You can do this by comparing to a few other companies.
5. Poor Service
Service should not be below average or poor. This is not going to help your situation and doesn’t generally reflect much professionalism. Analyze your true feelings alongside the reviews of the company. If you’re still good to go, then continually monitor the service and progress as you proceed on your debt elimination journey.