Choosing The Best Debt Settlement Companies

Debt can cause problems for many people curadebt debt-reliefand can frequently cause significant devastation to your family, career and future plans. It is common knowledge that financial problems are the number one cause of stress and divorce.  Ignoring your financial troubles may quickly result in losing your possessions and home and possibly even your career and family. I am sure no one anticipates something such so drastic happening to them, but too much debt can spiral out of control and wreck your life. Don’t allow your debt to ruin your future. Irresponsible spending may be at fault but there are lots of situations where it is simply a result of an individual’s power to earn enough money to pay off their debts.

Acquiring economic freedom from most or all of your debt can seem impossible, which is why you need the help of a professional advisor from one of the best debt settlement companies.  Make sure debt settlement is the right solution for you. The best way to determine if debt settlement makes sense is to use a debt relief company who can negotiate with your creditors. You want to work with the best debt settlement company, but what do you look for when searching for a reliable credit settlement firm that can help you decrease or eliminate your debts?

Debt Settlement Experience
When choosing a debt relief company to settle your debts you should pick one that has been in business for at least fifteen years. This demonstrates that they have the ability and resources to resolve your issues. They should have staff who is experienced with debt settlement and debt consolidation. Be sure to ask if they have CPAs, tax attorneys and employees with decades of experience with the IRS, banks or credit institutions.

Debt Settlement Reviews
In addition to certifications, association memberships and experience, it is critical to review online reviews about a debt settlement company before selecting the right one for you. You should select a company without complaints, offers real testimonials and has high ratings (5 out of 5 stars).

  • Pick a debt settlement company that has hundreds of reviews for you to examine. If a business only has a few reviews you don’t know what to expect.
  • ShopperApproved – the right debt settlement company should have five out of five stars. This is one of the largest review sites and is a great place to start.
  • Customer Lobby – pick a company with 5 out of 5 stars. Customer Lobby calls customers to obtain their opinions and verifies their validity before adding their review to the site.
  • Top Consumer Reviews – this is a consumer review and “watchdog” site for debt relief companies. You should pick the company that has been ranked number one for at least five years on this website.

If a business does not meet these criteria or have reviews on all of these sites then you should elect not to use them. A debt relief company that meets all of these criteria demonstrates professionalism, quality customer service and the ability to get things done.

Debt Association Memberships & Certifications
Curadebt associationsA reputable debt settlement company should be a member in good standing with several industry associations. Check to see if:

  • The company is a member of the International Association of Professional Debt Arbitrators (IAPDA). Members of the IAPDA are required to have their account executives and debt consultants obtain a certification that verifies their debt settlement knowledge and experience.
  • They are a member in good standing with the American Fair Credit Council (AFCC). The AFCC is one of the oldest and most respected associations of debt relief companies. They have a strict set of guidelines and standards that their members must implement in their businesses.
  • Member in Good Standing with the Online Business Bureau.
  • Look for the top debt settlement companies at Powerprofiles and select one with at least a Silver Profile.
  • Listed with HONESTe Online, which is a business bureau that rates and certifies debt settlement companies.

Free Debt Settlement Consultation
Another item to consider is, does the debt relief company provide a free consultation? This is a great way for you to communicate your situation with them, get professional advice and understand what they will do to help you get out of debt.

Other Debt Settlement Considerations
Make sure the debt settlement company you choose can provide relief from all types of debts including: auto loans, student loans, mortgages, credit card debt, other unsecured loans, lawsuit debts, taxes that are unpaid, business and payroll taxes, tax penalties, wage garnishments. Also consider:

-> When you complete their program, does the company provide up to twelve months of credit restoration?

-> Are you comfortable with the company and their representatives?

->Do you comprehend what services they are offering/providing?

-> Is the company accredited/registered to provide debt relief in the state you live?

Imagine living free from all of your debts, or even just a few less payments each month, which could drastically improve your lifestyle and make it much easier to live within your means. When choosing the best debt settlement companies, make sure they meet all of the criteria above and you will be well on your way to experiencing freedom from the shackles of debt.

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Author: Grayson

Hello, my name is Grayson and I am an expert in credit repair, debt negotiation, debt consolidation and personal finance. I have a B.S. in Finance from the University of Miami and a MBA from the University of Central Florida with over 10 years of financial services experience, focusing primarily on credit and debt solutions. I grew up in Tallahassee and still live in Florida. When I’m not working I enjoy traveling to Central America and the Caribbean. Welcome to my blog and I hope you enjoy!