Debt Elimination Programs – What Works, What Doesn’t

There are dozens, no hundreds, no literally tens of thousands of programs out there promising debt elimination. As you surf the Web, watch late-night television or listen to the radio as you drive to work, you will be bombarded by many, many ads from so-called debt elimination companies. The problem is that most of these companies are not really legitimate. In addition to not helping put an end to your debt problems, most of the techniques that they propose actually increase your debt and increase the time until you are free of debt.

Many of these companies seem like they want to help you and your family eliminate your ongoing financial woes. However, even the companies that claim to be ‘non-profit’ are not. Just like many other sham companies, they are in business to exploit your worry about your tenuous financial predicament and make themselves rich at your expense. Do not fall for these unsubstantiated claims!

False Promises
These so-called debt elimination businesses promise to:

• Create a program that will eliminate your mortgage, automobile and credit card debt
• Demonstrate how you can avoid filing bankruptcy and other practices; this will damage your credit report as well as strictly limit any future borrowing options • Keep your personal finances private
• Avoid costly debt consolidation loans for you. However, this often increases your debt and may extend the length of time it takes for you to get out of debt
• Take you to a future free of debt

Eliminating Debt-You Can Do It!
The plans implemented by these companies may, indeed, work for many consumers. However, the techniques that they often use are available to all consumers, without cost of any kind! Call your creditors yourself and attempt to work out a revised debt management, and payment program. The, sit and work out a tight but reasonable budget that you can live with. Devise a plan to slowly but surely eliminate your debt and prevent you from ever getting into financial difficulty again. You can do it—we can help!

Federal Trade Commission Report
The Federal Trade Commission (FTC) states that consumers should simply not believe claims of debt elimination; they are almost assuredly a scam. FTC attorneys at the nation’s consumer protection agency report that they have never seen a legitimate credit repair or elimination operation that makes these claims.

Unfortunately for the millions of American consumers who find themselves deeply in debt, there is simply no easy fix for poor credit scores. You can, most assuredly, improve your credit report legitimately, but it takes time and effort-- and sticking to a budget! Not so easy for most consumers.

If you are considering any debt elimination program, we hope that the above information was helpful. For more help, please take a moment to fill out the form on the bottom of this page to speak with a member of our professional debt consolidation staff. You will be happy that you took the time to secure your financial future.