Debt is something that can be a sensitive subject to people. As debt continues to spiral out of control, the situation can get even worse.
There is the right way to get help with your debt and the wrong way. When you choose the wrong way, you could wind up in deeper financial trouble than you were when you started.
Debt settlement is the best way to take care of your debt for several reasons. First and foremost, debt settlement reduces your debt and gets it down to a manageable size that will fit into your monthly budget. Debt settlement does not require good credit, which would be necessary if you wanted to qualify for a consolidation loan.
Because the idea of reducing your debt through negotiation can be a very good one, there are some people who try to prey on helpless consumers. Before you sign up with any debt relief organization that claims to negotiate debt, you need to make sure that the organization is not a scam.
Better Business Bureau
The Better Business Bureau is a national organization that tries to mediate disputes between companies and irate customers. It has a strong presence on the Internet, and it also has offices in almost every major city in the United States.
Before you do business with a debt settlement group, you should check with the Better Business Bureau first to see if there are any unresolved issues with the company. A long list of angry clients does not indicate a quality organization.
It should be noted that a company does not have to belong to the Better Business Bureau to be legitimate. Membership is optional, but taking care of angry clients is mandatory.
While it is not necessary for a debt settlement group to be a member of the Better Business Bureau to be legitimate, it does need to have a professional affiliation. National credit counseling groups such as the American Fair Credit Council hold their members to the highest standards. A company that chooses not to belong to these kinds of professional groups should be suspect.
When you are dealing with debt relief programs, you would feel comfortable paying for results. When you talk to a debt settlement company that wants you to make an upfront payment before the program can begin, that is the sign of a possible scam.
In some cases, these account set up fees can be in the thousands of dollars. Until the debt settlement company negotiates your debt down, there is no reason to pay anything. You should only pay for results and any other payment arrangement is not in your best interests.
Debt settlement services cost money. That is something that the reputable organizations are not going to hide from their clients. When you are initially talking to a debt counselor, you need to ask for a comprehensive schedule of fees before you get started. You should be very wary of any company that refuses to explain to you exactly how you will pay for its services.
The reputable debt settlement companies will reveal all pertinent information from the very beginning. They will tell you the process, how the program will affect your credit and they will reveal any important financial information that you need to know about the program before you get started.
Organizations that are perpetrating a scam will be evasive with questions and will only offer all of the good news prior to establishing the account. You should be given all of the information, good and bad, that comes with a settlement program before you get started in one.
When you talk to debt settlement professionals, you need to take plenty of notes so that you have accurate information for your files. Make sure that the settlement expert gives you the same information each time that you talk. If you start getting conflicting information from the same company, then you could be talking to a scam organization.
We are hard working financial experts who have a long list of satisfied clients. We only get paid when we get results for you, and we are ready to put in the time to get to understand your situation. Our goal is to get you out of debt as quickly as possible and let you enjoy your income.
Call us today and talk to one of our settlement professionals to get a comprehensive financial analysis and a start on your new financial freedom.