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subject: Understanding Debt Settlement, And Choosing The Right Company [print this page]

The rigid economic times have many looking for a way out of compounding debt.

It was recently reported that credit card debt increased by 14% between the

month of September and October 2009. Many Americans are now left in search of

reputable debt settlement companies, who can help reduce or eliminate debt,

rather than the less attractive method of filing for bankruptcy.

In order to make the right choice, there are several important things to keep in

mind. The main objective of a debt

settlement company is to provide an alternative but legal option that will

allow you to cut down on money owed to your creditors. They serve as the go

between you and your creditors, handling all distressing communications from

creditors, and negotiate a reduced amount that you can afford. The

debt settlement company creates a

savings account for you, that allow you to make monthly payments to that

account, and at the allotted time once the amount agreed with creditors is

reached, a lump sum payment is made to them. This allows the customer to obtain

relief, while still enabling the creditors to receive some money back.

It is vital that one chooses the right

debt settlement company, that is reputable, trust worthy and reliable. One

with glowing testimonies from previous and current clients, and also one that

has a clean record with the Federal Trade Commission, and the Better Business

Bureau. The companys ratings there should be able to speak for it. It is also

imperative that the debt settlement

company is one that provides detailed answers, and allows you to make mutual

informed decisions. While the majority of debt settlement companies charge an

advance fee for their services, a good

debt settlement company will be able to settle on a suitable amount that you

can afford, and not necessarily the entire fee up front.

It is also critical to find a company that is professional, skilled, yet

understanding and personable. One that is able to work on your own individual

case and able to express empathy if yet another minor financial crisis comes up

even during your repayment period. It is essential to make educated and well

informed decisions to guarantee your pass to the fast track of debt relief.

SOURCE: SYD Financial

For more information on SYD Financial,

please visit:

http://www.sydfinancial.com

Through their current holiday debt

giveaway, a lucky person can win their debt settlement service at zero cost.

There are no entry fee requirements, and any US citizen over the age of 18, with

more than $10,000 in unsecured debt should be able to qualify. Only one entry

is allowed per person and entries will be accepted until midnight eastern

standard time, on Friday January 15, 2010.

For more information on the holiday

debt giveaway, please visit:

http://holidaydebtgiveaway.com/

by: same

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