Many people are finding themselves at the bottom of a growing mountain of debt and are willing to go to great lengths to eliminate their debt.
There are many credit card debt elimination organizations that will take advantage of your desperate financial situation. Most of these debt elimination companies fall under the heading of “if it sounds too good to be true, it probably is.”
Before you get involved with anything that involves your money do your homework and make sure you know what you are getting into.
Debt elimination services say they can get rid of your debt without you having to make any more payments and you don’t even have to worry about the consequences of not making your payments.
This would be great if it were true! These organizations claim that your credit card debt is not legal debt. This debt elimination process is like a house of cards and is based on sections from the Title 15 United States Code, the Fair Debt Collections Practices Act, the Fair Credit Billing Act and the Uniform Commercial Code.
Some debt elimination companies will mail you propaganda that tells you how to enforce your belief that it is right not to pay your credit obligations. Sometimes there will be a large fee for this debt elimination service.
These organizations will also promise to provide you with people that claim to understand laws that pertain to you being issued credit by credit card companies.
Let’s think about this logically. If there were actually laws in existence making it illegal for credit card companies to issue you credit, why so many people have credit cards?
If credit cards were illegal wouldn’t there have been clear laws enacted as opposed to scammers trying to make a quick buck by exploiting a “gray area.”If you are having financial problems, there are many legitimate debt relief options that will help get you back on track financially.
You may want to consider a debt consolidation loan, credit counseling or a debt settlement company. You may actually pay off your credit card debt without the help of a service if you take the time to create a debt repayment plan and budget. There are many resources on the web that can help you reorganize your debts on your own.
If you are having problems paying your debts, there is reputable help available through legitimate debt management programs. There is no “free ride.” You bought the things now it is time to take responsibility for paying for them.
There is always somebody that will try to take advantage of a person in a bad situation. Always consult the Better Business Bureau before you make a decision that concerns your finances.