Being in debt can cause a lot of stress. The last thing you need is to get caught up in a scam while trying to find a debt consolidation service. There are ways to distinguish between the genuine services and the scams. See how many of them you know by taking this quiz.
How do debt consolidation companies manage your debts?
by consolidating them
by lending you money
by paying it off for you
If you are in debt and you receive a phone call from a debt consolidator what does it mean?
Your friend has tried to get you some help.
Your prayers have been answered.
It is a scam.
If you are with a legitimate debt consolidator, how long will it take you to wipe your debt?
a few years
What do you have to be careful of once you have a new loan to pay your debt?
Make sure you are getting good rates on the loan.
Don't spend more just because you have a loan.
Both of the above.
What is a disadvantage of using a debt consolidation service?
You lose the self-satisfaction of clearing your debts.
You have to pay them fees.
Your credit report may be effected.
What does the phrase "non-profit" imply to consumers?
that the company is looking out for their best interests
that the company is poor
that the company gives lots of charity
What sort of organizations are exempt from certain telemarketing laws?
What sort of organizations do businesses like to affiliate themselves with in order to lure customers?
What service does the Better Business Bureau provide to consumers?
a list of reliable companies
a debt consolidation service
financial planning tips
If you are searching online for the Better Business Bureau Web site, what do you need to be careful of while searching?