How to Find a Legitimate Credit Card Debt Consolidation Loan Company
Debt consolidation companies offer debt consolidation loans that can combine all your loans into one place. Usually, they also offer debt settlement services, which involve helping you to negotiate for a lower principal amount for your current debt. They may also offer debt management services, which involve negotiating a lower interest for your debt. Do it yourself debt consolidation is not recommended unless if you have a good credit score. Practically, it is not suitable for you if your credit score is lower than 660. There are several things you must do in order to find a reputable credit card consolidation loan company.
One of the important things you must check is whether the credit card consolidation loan company is accredited with the BBB. You can find out about this by doing research on the company at the BBB website. If you do research on BBB, you will find that most debt consolidation companies on the web are not accredited or rated with the BBB. A reputable company will have an A+ rating at the BBB. If the company only has a C rating, it means it is not yet an established company. You will be able to find all sorts of complaints about the company, if there is any, at the BBB.
Besides, you must check whether the company is registered with the appropriate organizations such as The Association of Independent Consumer Credit Counseling Agencies. If the company is trustworthy, they will take care to register with a respectable agency. You can call the hotline number of the agency to check whether the company is registered.
Finally, you must remember to read the credit card consolidation loan reviews. If you do research on the web, you will find a lot of expert written reviews about their own experience with the credit card consolidation company. If you have no idea which company to choose, you can visit the top 10 credit card consolidation loan reviews site. It will give you an idea of which company is most trustworthy in handling credit card debt consolidations. The site also lets you conveniently compare different factors such as a monthly service fee, debt percentage, and a money back guarantee.
In conclusion, you will be able to find the right credit card consolidation company when you take time to do research. You can begin your research at the credit card consolidation loan reviews site and narrow down to 3 – 4 companies from the top list.