SOURCE: Total Debt Relief

June 15, 2010 16:30 ET

Debt Relief Agencies That Help Consumers Avoid Credit Card Bankruptcy

DALLAS, TX--(Marketwire - June 15, 2010) -  Debt relief agencies seem to be getting a bad rap from the media recently and it's hard to know which programs can actual help consumers avoid bankruptcy. Total Debt Relief explains how to identify legitimate agencies.

There is a wise saying that goes "there are two sides to every story" this holds true especially in the debt relief industry. For every consumer with a success story there is another story claiming someone lost everything because of a debt relief agency. It's no question that there are debt relief scams that take advantage of consumers in debt. Unfortunately since debt relief is in such high demand it is the nature of the beast.

For those consumers who can't afford to pay off their credit card debts in full, but can't or don't want to file credit card bankruptcy, a program called debt settlement has become a popular debt relief alternative. Debt settlement is a program where a debt agent negotiates consumer debts to a portion of the original amount (up to 50%). A successful debt settlement program lasts anywhere from 24 to 36 months. Typically debt settlement works only with unsecured debts such as credit card debt. The major difference between debt settlement and other debt relief alternatives such as debt consolidation or credit counseling is the debt negotiated is eliminated without having to be paid back.

Before signing up with a debt settlement company, consumers should do their homework when considering enrolling in such programs. Total Debt Relief suggests ensuring debt settlement agencies have official associations to the trade organization TASC (The Association of Settlement Companies). They also suggest participating in debt consultations with various debt settlement companies to see which company has the best offer. Some settlement companies charge higher fees compared with others. Lastly, they suggest seeking consumer reviews of each prospective debt settlement agency on review sites. These tactics will help prevent predatory settlement companies from scamming consumers plagued with debt in need of help.

Total Debt Relief offers a free debt consultation to see what debt relief option might be right for them at:

Contact Information

  • Contact:
    Rob Jones
    17304 Preston Road
    Dallas, Texas 75252