February 11,2009
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Enlisting Reputable CC Help, Pt.4
Nail it down.Identify all fees: Sometimes fees for more difficult credit card debt cases are legitimate. These should be fees toward expenses of services performed (phone calls, letters, negotiations and later consultations, not the first). Fee charges for help with credit card debt should be the ‘heavy-duty' cases where the free organizations can't provide all the necessary resources you need. Survey the course from beginning to end with your prospective credit card debt councilor and ear-mark any place possible fees are involved. Take time at the start to avoid being burned in the end.
Endorsing the contract: When paying for credit card debt help, it's not unusual for a contract to be involved. If that time comes, this is your last chance to have your say in the provisions. Some verbiage promised on the phone may not be included. You can be sure of a disclaimer at the end that disavows any ‘promises or commitments not written herein'. Before reading the contract, make a list of all the important commitments you were offered before this point. Then check this list off as you study the contract. You will most certainly find clauses and exceptions that appear vague. Clarify them in your mind before signing that contract. You will find liability disclaimers that protect the person writing the contract – this is standard procedure. Just make sure if credit card negotiations are made in your behalf that you're neck is not left ‘hanging out there' without your express approval.
Your own plan: You deserve (and need) a credit card debt plan that perfectly fits your situation. Generic plans may be okay for the lucky but they lack ‘industrial strength. Unless your case is also generic, these may not deliver what you need. In finance, "one size" does not "fit all".
Your solution: No quick fix, reputable counseling, no up-front fees, credible commitments, no shady contracts, applicable plan...all of this and more. Never underestimate the power of common sense and intuition. Be comfortable and confident with those whom you're entrusting your vital resources. Verbally walk through the credit card debt recovery process step-by-step, from beginning to end, with your councilor before committing. Then pack up a lunch and roll up your sleeves. There's some hard work, time and good judgment involved. The sun comes out on payday.