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Debt Relief Reviews website recently announced five new ways to determine true debt relief from the more typical scams. Sometimes it is hard to know if a debt relief company is offering true help or scamming money. These wily companies look legitimate in numerous ways, promising their client a solution from daily collection calls from creditors."The US government has offered legal policies for collection firms. Unfortunately, these policies do not stop clients from being hounded. Anyone in debt can still feel hounded, rushed, and anxious from collection agency calls," said Sergey Yazovsky.
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Debt Relief Reviews website wants everyone to understand there is a true solution to debt problems. Employees at www.debtreliefreviewscom believe the first step is determining the scams in order to avoid them. Working to discover the more uncommon debt scams found online, Sergey discovered five new tips.
Illegal companies take cash or money orders. These companies will not have an online pay account taking credit cards. Credit card merchants only work with legitimate companies. PayPal requires bank account verification before transfers and payments can be made. Anyone starting a scam will avoid an online paper trail including electronic payment accounts, which require a real name, address, SSN, phone, and bank account.
Scams can be avoided by checking payment forms, and looking for a company that accepts all manner of payments, including electronic transfers. Any company requesting cash or money orders, especially for the debt settlement amount being given to credit card companies is trying to scam clients. Additionally, checking with credit card companies and banks regarding the debt is wise. Creditors working with negotiators should have a file and record of these talks.
The US government grants scam requires the purchase of information. Clients pay for government grant information. A company states the information is only available through purchase. It is too hard to find unless it comes in the form of a computer disc. The scammers promise to do the research to find the US government grants and schemes. Once the disc is received by the client it is clear it was a scam.
True debt relief companies do not ask for payment upfront. They clearly state their fees, the structure of those fees, and the expected payment before work begins. No hidden fees and a follow up with creditors shows debt relief work is being conducted.
The 50% scam is harder to recognize. The first two scams rely on one quick payment, a solution as promised, and then a disappearance act. The 50% scam actually does some of the work. They talk with creditors, negotiate, and come back with a settlement amount. Only 50% of the settlement does not reach the creditors. It is taken as commission for the work completed by the company. When asked to show an accounting of the fees, often the information is inaccurate or uses "misc" for fees hiding behind a legitimate looking expense.
Avoiding the 50% scam is more difficult given the work completed. It is better to refer to reviews from professionals vetting companies. Vetted debt relief companies are to be trusted over something found on the Internet with a Google search.
"Companies working for a profit, but represented as not-for-profit are increasing," Sergey said. "These scammers promise to reduce the interest rate on debts."
Debt relief companies do not have the power to reduce interest rates. A client calling up a credit card, unable to reduce their interest rate, will not find anyone else who can negotiate for lower interest rates. Any money provided to the debt relief company for payment to credit card companies is kept or at least a portion is.
True debt relief exists. While scams appear online roughly two for every one legitimate site, it is still possible to seek debt relief.
"Try talking with creditors before seeking debt relief. There is nothing wrong with negotiating with credit card companies, banks, and other financial institutions first," Sergey said. "If this does not work find a debt relief company to trust and follow up with them."
By calling debt relief companies each week for their progress, calling creditors, and sending any debt settlement directly to creditors and not the debt relief company, it is possible to avoid scams.
Contact Info:
Name: Sergey Yazovsky
Email: Send Email
Organization: Thedebtsreliefreviews.com
Address: 4310 W. 190th St. Suite 78600, Torrance, CA 90504
Phone: 866-753-0187
Website: http://thedebtsreliefreviews.com
Release ID: 7208
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