Do the companies offering credit card debt settlement programs tell you everything? The answer to this question is no. They only show you the brighter picture. However, as a customer, you should be aware of the ground realities as well. There are a lot of things which settlement firms do not to tell you. For instance, some companies do not demand advance payments. However, they still manage to recover all their money in advance. How is that possible?
According to various credit card debt settlement programs, you have to pay your monthly installments to reduce your bill. However, these bills are not paid to the bank directly. Until the relief company has recovered all its money, it does not forward your payments to the bank. After few months you receive a shock when one of the bank officers calls and tells you that none of your payments have been received. Relief companies have very lame excuses for these problems.
Hence, whenever you make a payment, you should give a confirmation call to the bank and check whether your payment has been received or not. In addition to that, you should never make any advance payments to the relief firm. There are several things which relief companies hide from their customers. For instance, some firms overstate their professional experience. Even newly established companies mention an experience of ten years or more on their websites. You should confirm this information by contacting a relief network near you to prevent any kinds of problems in the later stages.