If you're a distressed homeowner, it's quite likely you have been looking at payday loan companies no credit check modification options to lower your monthly payment and save your home from foreclosure.

If so, you really have two options: pay someone to help you or do it yourself.

Do It Yourself There are advantages to doing your own payday loan direct lenders only mod. You save money and aren't relying on someone else to follow through on promises. However, it can be a nightmare trying to navigate these lender's processes. You also have the disadvantage of not knowing exactly what the lender is looking for which leads to a lot of failed applications.

Hire a 3rd Party Company Fraud is a primary reason homeowners are skeptical of hiring someone to handle their bad credit cash advance direct lenders mod. Cost is the other big issue for people. However, if you find a reputable company, it's a better option. The expertise of a third party company is invaluable as they know what the lender is looking for. They also have the time to babysit your case throughout the entire process.

That being said, finding a company you trust can be difficult. There are ways to weed out the bad guys, but perhaps most importantly, you should demand that you are not required to pay advance fees. Make sure there is a contracted expectation of work performed prior to any payment. This protects you from someone running off with your money without doing any work.

To further prove the point, the FTC has even stated that advance fees are a primary indication that a company could be fraudulent. Chairman Jon Leibowitz recently said the following:

It's true. After all, what assurances do you have when paying large sums of money in advance of a company performing any work? It's too risky and you're setting up someone to take advantage of you.