When the American economy began to sink, so did the finances of many American consumers.
Whether it was from job loss, salary cutback or overspending and over use of credit cards for decades, the inability to even make minimum monthly payment sent thousands seeking debt advice.
Many looked to debt counseling services as a way to eliminate debt.
The debt counseling industry is a relatively new one, and with demand on the increase, it grew wildly within a short time.
Unlike the debt settlement and debt management areas, there is little oversight of the counseling side of the debt relief field.
Hanging out a sign or having a website does not mean that a debt counseling service knows what it is doing, and it is left up to the consumer to investigate a company prior to signing up for one of their programs.
There are also other signs to look for when looking at debt counseling: • Look for a company who is a member of the National Foundation of Credit Counseling.
Its member adhere to strict guidelines for ethics and for membership.
• If they advertise on television or send you spam emails, keep looking.
• Non-profit attached to an organizations name is meaningless.
If you read the fine print, they want to make a profit like any other company who provides services.
• Never give your bank account numbers or credit card numbers to any company over the phone.
• If they use the phrase 'wipe out your debt', it's a big red flag.
Debt can be reduced through negotiation but it can't be wiped clean.
• If there are upfront fees, say thanks but no thanks.
One of the biggest hurdles in finding a debt counseling service is that there is shortage of experienced or even legitimate ones.
Even the IRS has cracked down on those agencies they found questionable.
All this makes a bad situation even worse.
The consumer is looking for debt help with amassing credit card debt, and has no idea whether or not the company he or she opts to work with will even be around long enough to take them through the term of a program.
Even worse than them going out of business is whether or not the advice given was a solid debt solution.
In debt counseling, the consumer should look for a company who offers trained, certified counselors, and who offers debt recovery based on the best options for the situation.
The plan should be a personalized one, and not a cookie cutter approach to debt assistance.
Each credit card debt situation is different and there is no one approach that works for everyone.
For example, if you need debt settlement you can go to other companies.
An assessment of the problems will often reveal that debt counseling isn't even the right debt advice.
It may be that debt management, debt settlement or even bankruptcy is the optimal route for an individual.
The consumer who does his homework when beginning the search is more likely to find a debt relief company who will work with him toward debt reduction and moving forward to a healthier financial status.
National Relief is one of the nation's most respected companies for debt settlement and debt management.
By going to their website and talking with a representative, your questions and concerns will be heard.
Get debt relief with national relief -- no obligation, just help!