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BBB cautions about FREE

debt collection companies.

?"" '
Consumers desperate for considering, Reports can be
help with their debts are obtained online at
often confused when www.ms.bbb.org or by
researching ways to get calling their 24-hour auto­
reputable assistance, mated response line (800­
Turning to a debt company 987-8280).
can be a viable option, but
not all companies provide
free services.
"When consumers strug­
gle with debt, the last thing
they can afford to do is pay
more money Jor help," said
Bill Moak, PrcsidentJCEO
of th'e B~tter' Business
Bureau (BBB) Serving
Mississippi. "Finding a free
debt consolidation compa­
ny isn't impossible, but it
takes an effort."
For people really strug­
gling with cash, there are
legitimate consolidation
companies that do not
charge any fees. However,
there arc others that do
charge fees for their assis­
tance. In some cases the
fees are not charged direct­
ly to the consumer, but the
fees may be required from
creditors and through high­
er interest rales in consoli­
dation loans.
The BBB offers the fol­
lowing tips to consumers:
·00 thorough research.
o Contact companies that
advertise "no consumer
fees" and ask explicit ques­
tions about how they make
their profits.
o Read all docmncnts
carefully and fully under­
stand them before signing.
o Ask' for explanations on
tenns or phrases that you
don't understand,
,Do it yourself.
o Although the process is
tedious, it does not require
assistance from an
"expert".
o Be organized and con­
sistent in your efforts to
resolve debt issues,
o Contact creditors direct­
ly to negotiate a reasonable
payment plan,
'Don't settle,
o In selecting a debt con­
solidation company, keep
looking until you find one
that you arc comfortable
with and feci you can trust.
Check with the BBB to
get a Reliability Report on
companies that you are