subject: Debt Settlement Company - How to Choose a Debt Settlement Company That Suits Your Financial Needs [print this page] Debt Settlement Company - How to Choose a Debt Settlement Company That Suits Your Financial Needs
When there are so many options to choose from, it becomes very confusing which one to choose and especially the one that is the best. Those debtors who have trouble paying off their credit card debts are often advised to negotiate with the creditors through a Debt Relief firm. The problem often witnessed in this case is that it becomes very difficult for the debtors to choose one because after the economic melt down when more debtors started opting for settling their debts. To meet the increase in demand of the Debt Relief companies a lot of them mushroomed out of no where. Therefore the debtors often get confused who to hire and where to look for the best one.
Here are some of the few things that the debtor must remember before rendering the services of any Debt Relief company. The debtor should look for any complaints against the company and look for their success ratio with the Federal Trade Commission. It is the right of the debtor to inquire about the license of the company. The company must also have a licensed attorney and it has to be registered with the Association of Settlement Companies. The debtors no longer have to worry about the up front fee that many of these Debt Relief companies charge. The new Debt Relief act 2010 clearly state that the debtor can no longer be charged an upfront fee and shall only be liable to pay once the settlement is made and the debtor is satisfied with the results.
There were companies that would loot debtors from their hard earned money by promising more than they could deliver and charge an upfront. The debtors despite the different results couldn't do much about it because they were already being charged. Now these companies have to earn their fee and try hard to get the maximum relief for their clients and earn a just earning. The role of these companies is very important in almost all the programs. They know exactly how to convince the creditors to grant the maximum wavier.
Debt settlement is a legitimate alternative to filing bankruptcy. Consumers can expect to eliminate around 50% of their unsecured debt with the help of a legitimate settlement program. With the new FTC laws recently passed in July 2010, debt settlement is a much less risky option. If they don't settle your balance you don't have to pay a dime.
Check out the following link for free help from a certified debt relief specialist:
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