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HomeBlog Debt ReliefHow To Avoid Debt Relief Scams
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How To Avoid Debt Relief Scams

December 11, 2012 by National Debt Relief

Young Man talking on the phone and smilingIf you’re having a problem with debt, sit back and relax as there are ways to achieve debt relief. However, it pays to be careful because the Internet is home to many debt relief scams. If you were to get caught up in one of these, you could lose hundreds of dollars and end up in worse financial shape.

What is a debt relief scam?

The simple answer to this question is that a debt relief scam is where a company makes promises that it does not keep. However, these scams are much more complicated than this. They generally start when a debt relief company contacts you and claims it can get your interest rates reduced to help you get out of debt in no time at all. Some of these companies even say they can get your credit card debts eliminated. Many of them also claim to be nonprofits. The person who contacts you will probably sound very professional and very reassuring.

Upfront fees

The first sign that the company may be a debt relief scam artist is if it requires an upfront fee. Legitimate debt relief companies charge nothing until they’ve settled your debts and you’ve signed off on a payment plan.

Legitimate debt relief companies are known by the company they keep

If you are contacted by a debt relief company, the first thing you should do is go to its website. Legitimate debt relief companies are members of the Better Business Bureau and probably the US Chamber of Commerce. They also usually belong to associations such as the American Fair Credit Council and display the BSI Certificate of Registration, showing that its services are in accordance with all the requirements of the Best Practices For Accredited AFCC Members Checklist.

How legitimate debt relief companies operate

A legitimate debt relief company charges no upfront fees (as noted above) and won’t make promises that it can get you out of debt in just a few months. It will require you to provide documentation of exactly how much you owe and to which creditors. You will be required to provide copies of your statements showing how long it has been since you’ve made payments to your creditors.. You will be given a contract to review or even take to your attorney that will spell out exactly what the debt relief company will do for you and how much it charges for its services. Nothing more will happen until you sign and return the contract.

You will begin paying the company

Once you have signed off on your contract, you will begin making payments to the debt settlement company. If it’s legitimate, it will deposit the money in a trust account that only you can manage. The debt settlement company will then start contacting your creditors and offer to settle your debts, probably for about half of what you owe. When all your creditors have agreed to the settlements proposed by the debt relief company, the money you have put in trust will be used to pay them off. You will have an affordable payment plan that should enable you to become debt free in 24 to 48 months.

If it seems too good to be true, it probably is

Don’t fall for promises from debt relief companies that seem to be just “too good”. Call our toll-free number or fill in the form you’ll find on this page to learn what we could do for you. It will take only a few minutes and it could save months of worry and harassment.

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National Debt Relief

National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

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By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
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Easy National Debt Relief Caller: April Transcribed WE 1/17/2021 April: Our call may get recorded. What financial concerns had led you to seek out National Debt Relief's services? RILEY: I guess just not being able to pay my debt. April: What had you choose National Debt Relief over other companies that provide the same service? RILEY: Really just researching online. Everything that I had read about them seemed pretty positive. April: What service or program did National Debt Relief help you to get through? Like a payment or consolidation program, anything like that? RILEY: I just do bi-monthly payment to them, and then they reach out to my debt account, I guess, that negotiated everything for me. So, it’s pretty easy. April: Can you walk me through the process of what you went through to enroll for the services? RILEY: God, it's been like two years, so I kinda don't really remember. I just had to fill out some stuff online and then talk to them on the phone. I had to give them all my account information and everything. And then they worked out a payment plan for me. And they communicate with me like once a month with my statement. And whenever they have communication with my accounts, they have called me and had me verify before they've done anything and whatnot. April: That sounds like a really good service there. RILEY: Yeah. April: At this point, are you still in the program or have you completed it at this point? RILEY: I'm almost done. It was, I think, a two-year plan. So, yeah, I think I just have one other account that I'm paying on. April: How about any interactions with the negotiators? You said they will call you at any time that there was maybe an account activity that they want to confirm with you first. RILEY: Uh-huh [yes]. April: So, how is the interaction with them when they reach out to you and you're able to discuss with them? How is that interaction? RILEY: It's been super easy and positive for me and relieves a lot of stress and anxiety. So, yeah, it’s been very easy. April: And then how has National Debt Relief been able to work with you in terms of your payment plan? RILEY: I basically just told them what I could afford, and they figured it out. And they have offered COVID relief if I need to stop payment for the time being or whatever. Fortunately, I haven't had to do that. So, I don't really know how that would have worked, but that was an option. But they're always like, “Call us if you can't make payment, and we'll figure something out for you.” April: What are your thoughts about the cost in relation to the quality of the service you received? RILEY: I'm really happy with the program. [unclear 0:04:22] as far as I know. I don't have any complaints. April: Has working with National Debt Relief impacted your life? RILEY: Yeah. April: How would you say that it's impacted your life at this point? RILEY: It just has relieved a ton of pressure and stress, financial stress, anxiety. I'm not living paycheck to paycheck now to pay my interest, so that’s been nice. April: Have you had other experiences to National Debt Relief that perhaps you want to share with us in regards to your experience with them? RILEY: No. I think that’s it. April: On a scale of 1 to 5, where would you rate National Debt Relief, if 5 stars is that you recommend to your friends and 1 star is you're very dissatisfied? RILEY: I would say 5. April: In a few words, how would you summarize overall the National Debt Relief in your experience with them? RILEY: Just easy and stress-free. April: Would it be okay for us to also utilize your commentary as a review that we can publish for National Debt Relief? And that would go to public webpage here, but that's to help other consumers make good choices if they're also in the same market. RILEY: I guess. Would it have my first and last name? I don’t— April: Only the first name. And if that's an issue, we do the first letter. RILEY: [unclear 0:06:03] you want my full name. April: Not at all. So, we only do the first name as an option. We can also do the first letter. So, it's really up to you on which option you prefer. But just the first name. We don't do last name. We don't post anything personal like your phone number. RILEY: Yeah. I think you can use my first name. April: I do offer a link that we can also send you with a direct link to your review. So, once it's published, you also get to see directly. Is that something you would like to have sent to your email? RILEY: No.

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Riley Barker
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