Protect Yourself From Debt Consolidation Scams

March 31, 2009 by  Filed under: Debt 

A debt consolidation professional is a trained financial consultant that cares about their clients and does their best to help each of their clients get their debt under control. However, there are some people in this field that are not always looking out for the best interests of their clients. There are ways to spot debt consolidation scams, and using these detection methods can help keep you and your money safe.

Always be wary of a person that calls themselves professional and then asks for a great deal of your personal information up front. A trusted and reputable organization is primarily interested in your situation before they are interested in your personal information.

It is ok to question a debt management service as to why they need certain information very early in the process. In most cases, a reputable company will not ask you for any important personal information until after the initial consultation. After all, at the beginning your very specific financial situation should be the main focus of a first time consultation.

Debt consolidation is different from client to client. You should be a suspicious of a who tries to sell you a canned program that they seem to sell to everyone. Debt consolidation is the process of reviewing the customer’s situation and then developing a program to address that situation.

It is very difficult to apply the same program to every customer. Be suspicious of people that attempt to put you into a pre-packaged program. As mentioned before this doesn’t not work most of the time.

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