We all see the advertisements in newspapers, on television, on the radio and on the Internet. Sometimes we even get fliers in the mail. Some of us have even received phone calls from telemarketers offering credit debt elimination services.

Many of these companies are legitimate and truly will eliminate your debt much quicker than if you were going to attempt to do it yourself. A legitimate credit debt elimination company will reduce your debt, and work with you to improve your financial situation and will most likely require some type of payment in return even if they are non profit organization.

Like any business however there are companies out there that just want your money and will prolong your debt repayment so they can make more fees off your debt, and they do not care if you never pay off your debt.

This article article will describe 3 things to look out for that could be a sign of a Credit Debt Elimination SCAM.

If you are looking for debt assistance you will find hundreds of services online and offline. If you are want reduce debt there many different names of services but they all pretty much do the same thing For example, you will see debt elimination, debt termination, or debt reduction in many legitimate programs as well as non legitimate programs.

Credit Debt Elimination SCAM Claim # 1

This scam is where the company claims the that credit card company you owe money to are operating illegally, and so you technically never borrowed money so don't need to pay anything back. If you follow this company's "system" the debts will go away simply because the banks don't want this knowledge disclosed.

The salespeople for these companies will sound very convincing especially if you are in a lot of debt. Although it may sound tempting do not believe the legal arguments these companies argue. If you see any company making a claim like that, do not sign up!

Credit Elimination SCAM # 2

The company claims you will never receive a credit call. If any credit debt elimination company can make this claim then they are probably trying to scam you out of money. No company can legitimately guarantee you will never get a call from your creditors. It does not matter what program you sign up for, you may still receive a call every now and then from a credit collector. A legitmate company will simply tell you to ignore these calls because you are already managing your debts through a negotiated deal.

Credit Debt Elimination SCAM # 3

If a company tells you they can eliminate your debt by %70-80 in a year they are probably a scam. If they are claiming this up front before they even consult with you then they are lying. Think about how could they even make these claims if they don't even know what amount you owe, or what type of debt you have?

Are there Legitimate Companies?

Of course there are. You just have to do your research. A good place to start is with the free ebook and information available at Eliminate Credit Debt home page. It is definately a good start for free information on legitimate credit reduction services.