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Friday, February 25, 2011

Debt Settlement Companies- Are They Scammers? Find Out Now

Debt settlement companies are not scammers! Let me just get that out the way. Debt settlement companies negotiate with your creditors to lower your debts. Sometimes they can lower your debt significantly so you end up paying less than 50% of what you owed. With that said you will always have ethical and unethical companies. When you are speaking with a representative of a debt settlement company be very careful.

Many debt settlement companies just want to make as much money as they can without the client’s best interest in mind. Some of these representatives will say just about anything to get you to enroll in a program. Here are the warning signs that will let you know if a debt settlement company is dishonest.

If they promise to save you 60 to 70%- This might sound great at first but confirm the overall price before signing any contract. Make sure you ask the representative if their claim of high savings for you is included in the company’s fees. The company should save you at least 40% of your debt including fees and paying your creditors.

They are not part of the (BBB) Better Business Bureau- If a company is not part of the Better Business Bureau then most likely they are not legit. You need to know how long the company has been in business for. Basically, the company should have been in business for 10 years because this ensures that they know what they are doing and have settled many debts in the past. If the company is part of the BBB but there record is unsatisfactory then don't bother talking to them.

No money back guarantee- If you’re going to work with a company, make sure they provide you with a written money back guarantee. This makes sure that if they don’t come through on their promise then you get your money back.

No prove of past clients or testimonials- Before you choose a company ask to speak to at least two past clients or hear 2 audio testimonials. You should be able to read 20-30 testimonials from past clients that are listed on a 3rd party website.

You should personally do some extensive research on a couple of debt settlement companies, check their credentials, talk to past clients and workers then make your own evaluation. The company that has the best reputation that is the one you go with.

One of the best debt settlement companies is Curadebt. Curadebt has been in business for over 25 years and they have A rating with the Better Business Bureau. It is the only business I would recommend Click Here
to get your free debt consultation now.


Anna said...

Yes, it is very important to avoid the scam companies and go for the best debt settlement company so that you do not lose out on your hard earned money. In order to choose the best debt settlement company, you should check out the company profile thoroughly so that you know about their service background. Apart from this, you should also check out their accreditations – IAPSA certification, TASC, etc. You should also check out the fees and costs associated with the debt settlement program as offered by the company. If you find they are quite higher or if there are upfront fees involved, then it's better to not go for that company. You can also check out their client testimonials in order to find out whether or not they were able to satisfy their customers.

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