Article Categories Finance Debt-Consolidation

How Do I Find A Debt Consolidator That I Can Trust?

By: Hector Milla

Even those who manage their personal finances well can find themselves in a position where they have gotten into more debt than they can handle. Multiple credit cards, student loans, medical bills, and other debts can easily become overwhelming and nearly impossible to manage. Having them all consolidated into one monthly payment can take much of the pressure off paying the bills each month and save money over the long term by giving the debtor a lower overall interest rate. Yet with all the debt consolidation companies that are out there, consumers need to know how they may be able to find a debt consolidator that they can trust.

Fortunately, today it is not all that difficult to ascertain the trustworthiness of a debt consolidating company. An abundance of resources exist online that can provide information on the track record of a debt consolidator and give assurance to the debtor that he or she has signed on with a trustworthy service provider.

The first way in which a debtor can determine whether a potential debt consolidator is trustworthy is through an inquiry with the local Better Business Bureau. Through a telephone call, many consumers have been able to quickly determine whether complaints have ever been filed against the debt consolidating company that is under consideration, giving the consumer data upon which he or she can base a more informed decision. It may also be possible to find out this information through an online inquiry with the local Better Business Bureau, so the person who wants to consolidate debt should investigate whether such an online inquiry is possible.

Secondly, the trustworthiness of a debt consolidator can be ascertained through a simple web search of the company's name. Any search engine request should return those sites where the potential consolidator has been reviewed, allowing the consumer to get a feel for how others have been hurt or harmed by the consolidator.

Either way is chosen, gathering accurate information on the practices of a debt consolidator is not difficult. So those in the market for such services should always do their research accordingly.