Get Out of Debt Guy - Steve Rhode

The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line


It’s probably a bad idea to start off with a negative but here it is, people in the debt relief industry are going to hate this article. Even friends of mine in the industry will be bummed. And why, because this article will tell you everything you need to look for when checking out a debt relief company to work with so you can protect yourself from scammers.

I’ll agree at the start that many, read that most, companies will not be willing to provide you with the information I’m going to show you, you will need to make the best decision possible. And if they elect not to, that should tell you something in itself. “Why are they not willing to share this information,” is the question you need to ask yourself.

I’ll also be willing to bet the moment you start asking these important questions, many of the companies will get defensive and will not want anything to do with you. They don’t want to be held accountable by smart consumers. You suddenly become not the sucker consumer they are looking for.

I suspect that no debt relief company in the United States will be able to pass all these steps with flying colors. But that doesn’t mean you should just work with any company blindly.

By doing your homework and conducting the investigation below you will have a much better idea of which company you want to rely upon to help you. Using what you learn you will be able to make an educated and informed decision about who you think you should work with.

Many Debt Relief Companies Think You Are a Sucker and Deserve to be Scammed

Here’s a secret you, as a consumer, don’t know. Many debt relief companies pretend to represent you but really laugh at you and call you stupid. They really do.

They say you deserve to be ripped off and deserve what you get because consumers never do any homework to check out the companies. Salespeople think they can lie and stretch just about any truth to close the sale. Don’t let them do that. Defend yourself and protect your family with knowledge.

People searching for debt help are in a unique class of consumers. They may not know it but they form a pool of disadvantaged people that are prime for the picking by scammers and people that want to manipulate them for profit.

People in debt are scary easy to manipulate because they are hoping for a miracle and allow themselves to be blinded to commonsense while searching for what they want to hear, not what they really need. Denial is a bitch y’all.

So here is my super secret, lip smacking guide to checking out any company that wants to charge you to deal with your debt and jump in between you and your creditors.

This group of companies includes:

Feel free to print out this article and use it as a guide to collect the information you need. I’ve made it as step-by-step as I could to make it easy to protect yourself.

Write the answers down and save this information in case the relationship goes sour in the future. You’ll be glad you did.

The Beginning – Basic Information

Let’s start with asking the debt relief company some very simple and basic questions to identify them.

Some More Easy Online Research

And that’s the easy stuff!

Moving On – More Research for Professional Consumers

So once you feel confident the company is legitimately organized to operate in your state and can verify the backgrounds on the owners and know where they are physically located, the next part will be eyeopening.

Before you embark on your journey with the debt relief company we need some basic information about how effective their services are. It’s one thing to say “You can trust us, we are just innocent charitable non-profit credit counselors,” but what is the truth about performance?

Many hospitals are non-profit and charitable. Do you want to go to the hospital where 90 percent of the patients are never cured or die or do you want to go to the hospital where 90 percent live or are cured? They choice is 100 percent yours to make.

Require the Company to Show and Prove How Effective Their Services Are

If a company is not willing to prove how effect their services are, that’s a deal killer for me. Walk away. And don’t believe some credit counseling sales person of debt settlement closer that companies won’t provide performance information.

As an example that some do, look at the comprehensive transparency project Cambridge Credit Counseling embarked on. And they are one of the few, if nearly only credit counseling groups to do this.

So let’s get some facts from the debt relief company.

The Home Stretch – Almost There

Once you made it this far and still want to work with the debt relief company in question, you only have one major hurdle to cross.

Now is the time the debt relief company will try to close the deal and complete the sale. Many debt relief salespeople are commissioned sales people so they may be pushing you to sign the contract all through this process. But hold your ground and get the facts first. Don’t let them push you into signing some online contract or agreement. Ask for the agreement in writing, either sent to your email in a PDF format or sent through the mail. You need time to read the agreement and not be rushed.

Here are the key areas to look for in the written agreement.

One Last Point – And This is Important

Your Decision – Should You Choose to Accept It

As I stated at the beginning, I doubt any one company is going to satisfy every question but at the very least you will be better informed about who you want to work with. Better informed that is than 99 percent of other consumers shopping for debt relief help.

So it’s time to make your decision about what company you want to bet your financial life on. Having the information and doing the research I suggested should give you a pretty good idea of who stands out to you.

Let me know what your results are when you use this guide and if you think I missed any important questions.