Unfortunately, a lot of good American people have been duped by fraudulent debt relief companies that offer nothing but fake promises and unrealistic services. With a dipping economy, it’s no wonder that the common man is finding himself trapped beneath the huge piles of debts and these fake debt relief companies are quick to exploit the financially strained individuals.

There are enough laws to regulate the debt relief companies but the problem is not with the implementation of the laws. The real problem lies in the attitude of the customers. Most of us try to find an easy way to repay our debts and it’s this desperation that leads the fraudulent debt relief companies to our door steps.

Other than contacting a debt relief company, there are other options too that can help you in repaying of your debt. This article will educate you about those other options of handling your debts.

• Get in touch with your credit card company:

It doesn’t matters if your previous attempts of contacting the credit card company have failed. It won’t hurt you to try one more time before asking for help from a debt relief company. It also makes sense, why should you pay someone else to talk to the credit card company on your behalf when you can do it all by yourself. The contact number of your credit card company can be found on your credit statement.

Pick up the phone and call them, remember to be persistent and polite while talking to the customer care executive. Remind them of your previous debts that you have paid well in time, show them the records of your debt and explain your situation clearly. With proper persuasion, it is possible that your credit card company will agree for a modified payment plan that reduces your debt to a certain manageable level.

• Contact a non-profit credit counselor:

If your attempts to get your debt reduced by yourself have failed then try to find a non-profit credit counselor. Do some research and find a non-profit credit counseling organization. Please note that we are stressing on the word non-profit. It is because non-profit credit counselors won’t have any motive of their own, they’d help you without any expectations of profit.

Credit counselors can help you by educating you and advising you on financial matters. They are experts in consumer credit and debt management and hence they can help you to come up with a suitable plan that allows you to repay your debt without any complications.

Non-profit credit counseling can be obtained through phone, online chat or email. We would advise you to find a counselor for in-person meetings so that the counselor can gain a better perspective of your current financial situation.

Even though most of the non-profit credit counselors don’t charge any fees but still you must not take it for granted. However if some counselor asks for large amounts in payment then it’s better to stay away from him.

• Bankruptcy:

Even though filing for bankruptcy can have serious consequences like ruining your credit card score but still in some situations it’s the best thing to do. In case if you find yourself in a situation where it’s impossible for you to repay the debt then it’s better to file for bankruptcy under chapter 13. Filling for bankruptcy under chapter 13 will allow you to keep some of your assets and repay the debt according to a modified plan that suits your financial standing.

Paul Ritz is an associate at National Debt Relief, a BBB accredited business that has helped thousands of Americans resolve credit card debt problems.