Debt relief companies are for-profit institutions that help consumers manage large amounts of delinquent debt with the aim of avoiding bankruptcy. The portfolio of relief services will vary by company, but most offer debt settlement, debt consolidation and debt management.
How debt relief companies work
Debt relief companies exist to help consumers lower their debt or better manage their repayments for a fee. Keep in mind that these fees should never be requested upfront and should only be charged once your debts have been settled or resolved.
Most relief companies require an initial consultation to determine eligibility and to decide which method is best for you. However, its important to walk into the process prepared by knowing al…
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