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Can I Trust a For-Profit Debt Relief Provider? – Eric

“Dear Steve,

Large amount of unsecured debt.

There are so many options, all of them for profit. How do I know that I am choosing a reputable provider and that they have my best option in mind when they are all for-profit?


Dear Eric,

I think any argument of concern you could make about a for-profit company you could make about a non-profit company as well. Non-profit providers are businesses as well, they just don’t get taxed on their proceeds.

So ultimately your question comes down to which provider you can trust. And that’s a tough question. In scanning the debt relief vista it is a wild, wild world.

Since I don’t know anything about your specific situation I can’t give you any advice on that. But I suppose in general the best advice I can give you is for you to understand that many debt relief providers look at you as a sale and you are being sold by a salesperson that is trying to meet a quota or target.

You may want to consider talking to a bankruptcy attorney, credit counseling company and a debt settlement provider about your situation. Just listen to what they have to pitch you on and then come back and give me an update. We can take it from there.

Outside of that the debt coach I recommend, Damon Day, would be able to spend some time reviewing your situation, review the providers you selected, and help you implement a solution for your particular problem.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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