Signs of a Good Debt Settlement Company

By Scott Wallitsch

When choosing a debt settlement company, it is important to remember that this is an important decision that will affect your life for a good 2-3 years. In addition, no matter what a company may say, the results of their negotiations will not necessarily vary greatly(assuming that you are choosing between reputable companies). Thus, in my opinion, the deciding factors for your decision should be based more on customer service than any other aspect. Here are a few points to focus on to help you make your decision a little more easily.

1. They pay attention to your needs:

Each individual’s financial situation is unique and should be treated accordingly. They company should take the time to understand your specific case and not just ignore the details. This means that they should take the time to understand your situation and not just try to sell you product.

2. They are honest and upfront from the beginning:

Any debt settlement company that makes you promises or makes things sound too good to be true, should not be trusted. For example, a good debt negotiation company can negotiate your debts to 35-40% of the outstanding balance, but not always. Some deals may be for 50, 55, or 60% of the debt depending on the situation. Make sure that the company gives you realistic expectations.

3. Their fees are reasonable:

Any company that charges you expensive set-up or administration fees or excessive amounts of commission should not trusted. Additionally, I wouldn’t recommend choosing any company that asks for large sums of money upfront. There are obviously expenses involved to begin negotiating an account, but charging large upfront fees doesn’t guaranteed that the company will follow through on what they promise. I recommend hiring a company that charges a commission, this way you are only charged based on the results the company produces. Additionally, when a company is paid on commission, there is less risk that they are a scam, because the only way that they make any money is if they actually do the work.

4. Gut feeling:

Ask yourself if you feel comfortable with the individuals you have spoken to. Do you feel comfortable in general with the information and other explanations. Remember, you are paying for the service, so make sure it is what you want, not what they want to give.

One final issue that I didn’t mention was certifications. Memberships to debt settlement organizations and negotiation certifications are a bonus, but in my opinion are rather easy to obtain by merely paying membership fees. The BBB is also a bonus, but should not be a determining factor as many complaints come from disgruntled clients who expected the company to work a miracle. Finally, a number of BBB organizations are currently denying debt settlement companies membership solely due to the industry which means that many, even if they wanted to, could not be members of the BBB.

In general, I feel that if you take in to consideration these few extra points I have mentioned, you might find yourself choosing a debt settlement company that fits your needs a little more precisely.


Scott Wallitsch is a consultant for DebtorSolution. To find out more about Choosing a Good Debt Settlement Company, visit our website at DebtorSolution.com or email us at Info@DebtorSolution.com

Article Source: http://EzineArticles.com/?expert=Scott_Wallitsch