Darcy Schanck 5 Signs You Need a Debt Professional

(Newswire.net — July 9, 2014) Mississauga, Ontario — “High interest debt can be incredibly difficult to get out of and the need for a professional debt negotiator working for you can often help to relieve the pressure.” says Darcy Schanck Independent Financial Advisor. “Those who have been in the industry long enough will have established a working relationship with creditors. That will put them in a great position to help you out.”

 

But you should also know that hiring a debt professional is not always necessary. There are instances when you can do it on your own without a problem. However, there are signs that will tell you that DIY debt negotiation will result in futile efforts andlost money.

 

Here are the 5 signs that you should hire a debt professional.

 

• You have no time. Negotiating debts can be time consuming and you have to realize that you need to allot time for this. If you have a stressful workload in the office, you may not be able to give this the attention that it requires. This is when a dedicated debt professional can be of benefit to you.
• You are easily intimidated. Another sign is when you know that you can get intimidated easily. Creditors and debt collectors can use tactics that will force you to stick to the original plan and not ask for a reprieve from you debts. If you know that you cannot handle the stress, then opt to hire a professional instead.
• You cannot control your financial habits. The great thing about a debt professional is they are usually personal finance experts too. They can give you advice on what you did wrong with your finances and what you need to do to stop making things worse. This is a great first step towards putting yourself more in control of your money.
• You tend to give up easily. Debt negotiation can be stressful. The longer the creditor will drag things out, the more you will feel desperate and ready to quit. This is understandable because you are emotionally attached to the results of the negotiation process. Debt experts have no personal reaction to any negative comments from the creditor and will not deter them from the task at hand.
• You can afford to pay the service fee. Lastly, if you have the money to pay for the service fee involved, then you can definitely go ahead and hire a debt professional. But if you know that this will set you back further, and then you have to rethink your options, often debt negotiators will work on a percentage.
• Debt negotiators generally get a much better release response from creditors which allows you to get the biggest benefit from the negotiation.

 

In Canada, hiring professionals to get out of debt is a common practice. However, consumers are cautioned because there are debt relief scammers who prey on those who are deep in debt and desperate to get out of it. Before you hire a debt professional, make sure that you check out their background, reviews and testimonials of past clients.

 

You should also understand your rights as a consumer. Know what the law says about how debt relief companies should operate so you can identify if you are being abused or not. Be wary of too good to be true offers because in most cases, they cannot deliver what they promise. Most of all be careful of companies who ask for upfront fees. They could get your money and not do anything about your debts.