WICHITA FALLS (KFDX/KJTL) — A recent study by the Better Business Bureau has found that many people struggling with debt are looking to help from companies and ending up in further debt.
When it comes to debt relief and debt consolidation, our local BBB location knows that debt consolidation and debt repair companies are going to try to lure vulnerable people with high fees and overstated promises, and these will often leave people worse off than before they contacted these companies for help.
They want people to know that many of the solutions offered by debt repair and consolidation companies can actually be achieved by consumers alone, as long as that person does their research.
“If you’ve received a phone call or text message or some kind of warning like this, you want to do your research, and even if you’ve already fallen for something like this, again, you want to do your research,” BBB North Central Texas Director of Operations Cosme Ojeda said. “Start by calling the Better Business Bureau. We can direct you appropriately. You can ask around. If they say that they’re collecting on behalf of an entity, you want to call that entity directly.”
Some tips for those looking to get debt relief or credit repair are:
- Don’t pay or provide payment information until service is rendered.
- Call debt holders yourself and attempt to negotiate a lower debt payment.
- Don’t be rushed. Unscrupulous businesses and scammers both use high-pressure tactics.
