Best Debt Relief Companies is easy to find these days. You can easily locate websites online offering a directory of legitimate settlement companies. Such directories are very useful, because they keep you informed about the status of your debt. There are some things you need to consider before choosing the best debt relief company. Read ahead for five tips.
First, ask for proof of the company’s performance statistics, such as the total debt amount they have successfully resolved and the average amount they take in monthly. The quality of service which Freedom Debt Relief provides remains unparalleled, ever since it came onto the market 19 years ago. The company has settled more than millions in unpaid debts and brought hundreds of thousands of new customers, with an amazing rate of over 50,000 new accounts settled every month.
Second, make sure the company offers free credit counseling services. All the best debt settlement companies encourage their consumers to get expert help from the company in order to avoid bankruptcy. This is a good option because it helps the consumer to stay out of financial trouble. The counseling sessions offer practical solutions to the problems faced by most consumers, allowing them to devise an effective strategy for repayment.
Third, do not choose the first company that approaches you. You need to compare different debt relief companies before making a decision. You should go to creditors who are responsive to your needs. The best debt settlement companies are aware of the tricks creditors use to get their payments. They therefore use special techniques and strategies to get the maximum recovery of their clients’ debts. These creditors usually ignore the legal agreements which have been drawn between their clients and the company they are paying.
Fourth, do not stop paying your medical bills. Medical bills cannot be eliminated but they can certainly be reduced. If you are a person who has many unsecured debts, then you should opt for a financial services agency which can help you reduce your dues. A reduction up to 60% can be made if you hire the services of a legitimate debt relief network. You will have to pay a fee for this service but the amount of savings that you can make can be truly helpful to you.
Fifth, make sure that your settlement agent is not affiliated to any particular settlement company. Only the best ones are affiliated with the proper agencies like The Association of Settlement Companies (TASC) and The Better Business Bureau (BBB). TASC is the trade body of the settlement industry and works with credit card companies. The BBB does not endorse specific settlement companies. It only inspects the firms which have been accredited by the BBB. Therefore, you should always work with an agency that has been accredited by both the institutions.
Sixth, never pay upfront fees. Any good financial services company will never ask you to pay them a single dime before settling your debts. If you fall for a scam, it will just go after your money in the end. When you are trying to settle debts, it is best not to get money upfront in advance.
Lastly, it is best to work with new age debt solutions. New age companies are providing excellent service. They are experts when it comes to negotiating with creditors. Furthermore, they are fully backed by the Federal Trade Commission. They serve customers around the clock with quality service.
Settlement Process: A good financial services company will never ask you to pay them any upfront fees before settling your debts. This means that they don’t have any relationship with your creditor and don’t intend to extract money from you in this manner. Instead, they will be providing all the required assistance throughout the settlement process. Financial institutions don’t want you to go through the settlement process because it is a time consuming and very tedious process.
What’s more, they will ask you to stop paying your minimum credit score. The longer you fail to settle your accounts, the worse your credit score will become. This will be detrimental to your financial future. Hence, it is best to seek help before going for a settlement process. Your credit score will come down but your financial future will remain intact.
You see, the financial institutions and the government have been trying to encourage people to settle their unsecured debt for at least seven years since the recession began. You will be able to benefit from this for at least five years. If you go for settlement process, you will be able to get a good waiver and will not have to pay the service charges for at least seven years since the date of settlement. There are no other financial institutions offering such a deal and you can choose one that will offer you a good deal if you are aware of the rules.