Monday 23 December 2013

The Truth About The Obama Credit Card Debt Relief Bill - Credit Debt Relief

By Frank Miller


Although internet is the best source of finding information regarding debt relief, it cannot be completely trusted. The reason behind this is that now debt relief through other alternatives has become very common. So there are many con artists who take advantage of this fact and make fraud debt relief firms to capture people, make them a fool, grab their money and run away. People need to be very careful when they are searching for debt relief firms online and follow the guidance given on different websites on how to select a legitimate firm because you want to end your debt not start increasing it.

All those attractive websites you see offering you unbelievable reduction rates are the fake ones. You need to stay away from them. Even looking at them is a waste of time. If you are looking for a real relief firm then you need to visit a relief network. There are several debt relief networks in the market associated with the government, working for the benefit of people by providing them with the real debt relief firm.

These companies cannot charge any upfront fee. They can only charge a fee once they have significantly reduced at least one of their client's credit card bills. Also, they can only receive the fee once the debtor has made at least one payment to the credit card company which has been settled with the debt settlement agency. Furthermore, the bill and the fee have to be proportionate to the amount of money which has been reduced. Finally, a special bank account is opened upon signing up to the credit card debt settlement program. The good thing about this is that it is under the control of the client at all times.

Some names of the relief networks are Better Business Bureau and The Association of Settlement Companies. Their enlisted members pass through an ethical and standardize test to become a member. These networks keep a watch out on every member firm to see if they are working properly. They also provide ratings of different relief firms and show different consumer's views who have appointed their member firms so that the consumers who are willing to hire any relief firm can get a clear picture.

Finding relief network is also easy; in this case you would not have any doubts like whether the network is real or not because there are just few networks and all of them are associated with the government. To contact a relief company, you can search it over the internet and get their websites; some names have been mentions above so look for over the internet and find the most authenticated information you are needed to become debt free.

While there are many great credit debt relief options out there, including debt settlement, it is up to you to do some research before getting a credit debt settlement company to make representations on your behalf. Also keep a keen eye on the credit debt relief process in order to make sure it moves smoothly. So forget about President Obama. When it comes to settling your debts you are on your own. However, thanks to the changes in the credit card debt law, as long as you take these tactical steps you can make great credit debt relief savings by signing up to a credit card debt settlement program.




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