subject: How to Choose a Debt Settlement Agency [print this page] How to Choose a Debt Settlement Agency How to Choose a Debt Settlement Agency
If you find yourself buried in credit card debt, you can get help from a debt settlement. Debt settlement agencies can help you come up with reasonable and effective ways of paying off your debt. They can design a financial plan that best suits your situation.
Although you can find numerous debt settlement agencies, choosing one can be difficult. There are lots of debt settlement companies that make a lot of claims, but not all of them are can be trusted. When choosing a debt settlement agency, keep these pointers in mind.
Choose a company that charges low interest rates in fees. Debt settlement agencies charge a certain percentage of your total debt as fees for their services. Pick those that charge 15% or less. Naturally, you have to go with those that offer low interest rates so you won't have to incur more debt and worry about paying it back later on. Companies that charge more than 15% of your original debt may just be after your money rather than assisting you in your situation.
Check the background of the settlement agency. There are a number of illegitimate credit card debt settlement agencies you must be wary of. It's important that you know the agency's background first before you engage in any business. Debt settlement companies listed with the official business organizations are safe and ideal choices. You can also look for certified debt settlement companies.
Go with an agency that has been performing credit card debt settlement for over a year. It's important to hire a debt settlement company that has enough experience in the field. Don't risk your situation by trusting a company that does not know the ins and outs of the industry. You must know the company's success rates in settling debts first before you make any commitments. This is to ensure you get your money's worth after the whole process.
Always ask for a contract or written agreement. When looking for a credit card debt settlement agency, always request a written copy of their terms and conditions. Avoid doing business thru phone calls. It's important that you have everything on paper in case problems arise later on.
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