A debt management company can consolidate your debt and lower your interest rates by negotiating with your creditors. Debt management companies can also help you pay off your loans sooner. But before you sign up with a company, make sure your research their services, fees, and practices.
Research Companies
It is important to research debt management companies to make sure you arent scammed out of thousands in fees. Legitimate companies offer a valuable service, charge reasonable fees, and are willing to disclose their terms.
Many debt management companies operate online and provide information through their website and over the phone. In a few hours, you can research dozens of companies to find the best one for you.
Ask About Services
The first question you should ask is what services the company offers. You want a company that specializes in handling accounts. Ask how soon the company begins making payments on your loans. Some companies wait several months before making payments, raking up late charges for you.
Some companies also offer certified credit counselors to help you develop a financial plan. This can be a valuable service if...