Top Debt Consolidation Companies – 3 Essential Things To Look For
Searching for the top debt consolidation companies requires a sound understanding of what makes a company good. Without having such an understanding, you could fall prey to clever and seductive marketing. There are countless horror stories of people who struggling with debt, got mixed up with these kinds of slick companies. This article will show you how to avoid adding yourself to that statistic. After reading you’ll be a whole lot wiser and closer to finding the right consolidation company for your needs.
Essential Element #1 – Fee Structure
Debt consolidation as a debt relief option is very good, but it’s not cheap. The top debt consolidation companies will charge you to consolidate your loans, credit card debts etc, but you’ll have to prepare to pay them a monthly premium to do it. In this regard the fee structure is very important. Not all companies will charge you the same, so it’s important to do some shopping around. Lean towards companies that have free initial consultation and very few, if any, tie-in clauses.
Essential Element #2 – Reputation
Like most things, the top debt consolidation companies will have some sort of ranking hierarchy. The best ones will have a solid information, and you can check this reputation by trolling the online consumer watch groups. The Better Business Bureau (BBB) can also offer some insight into how well a company treats its customers as well as the level of service they deliver. Be wary of any company that wants a lot of money upfront before they’ve delivered on anything.
Essential Element #3 – Online Operation
There are lots of top debt consolidation companies that operate brick and mortar businesses but these tend to be on the ‘pricey’ side. Online debt consolidation is cheaper, more accessible and more seamless. For instance, a trip into a local office might involve lots of form filling and very intense digging into your affairs. Such things are nonexistent online, and most companies will have very simple forms to fill in. The backbreaking work of negotiation with your creditors, working out consolidation details etc are all done behind the scenes.
Keeping your eyes peeled for the above is crucial to finding gems among those who claim to be one of the top debt consolidation companies. These are the elements we use in researching the top companies ourselves, so you can’t go far wrong by using them. You can even take a shortcut and use of our hand-picked companies.