What Do You Know About the Federal Debt Reduction Initiative?
I have read a lot about the federal debt reduction initiative and I must admit none of it has been good. It appears one of their priorities is taking your money. When people need help this tends to be more of a problem. It seems like there is a scammer ready to tell you what you want to hear and take your money and run.
There is no such thing as a federal debt reduction initiative. You can use a nonprofit credit counseling company or a debt settlement company, but there is no direct government agency that is going to help you get out of debt. But if an organization is trying to appear trust worthy, it always sounds good if they sound like they are affiliated with the federal government.
If you have debt, you are going to have to decide how you want to manage it. Before you give your money to anyone, take the steps to make sure they are reliable. Check out what the forums have to see and also what the BBB is saying. Just because someone has a complaint against them does not mean that they are dishonest. These companies are in a business that is not pleasant and not everyone likes what they have to say. A complaint can be filed for this reason. Any reputable company will do their best to resolve the complaint in a professional manner.
If you need help, non profit organizations have a lot to offer. Rarely would a scammer go the nonprofit route. Just because an organizations advertises that it is nonprofit, does not mean that is free. They need to make money to cover their expenses. Debt counseling agencies normally charge a setup of fee of about $50 and a monthly fee of $30-$50 per month. If they are trying to hold back your first month’s payments, look elsewhere. If you offer the federal debt reduction initiative, check it out carefully.