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5 tips to choose the right debt settlement company

Debt settlement is increasingly being adopted as a popular means to get out of credit card debt. Essential to successful debt settlement is having the right debt settlement company work for you. But how do you find the right debt settlement company? Here are 5 tips that could help you find the right debt settlement company.

1. Don't get driven by high pressure sales Internet today is swamped with lucrative debt settlement offers that are quite confusing, and hard to believe. The idea is to stay clear from debt settlement offers that seem too good to be true. Researching for the right offer and comparing various services offered by debt settlement companies, will help you reach the right debt settlement company.

2. No upfront fees Stay clear of companies, ask for complete fees up-front. Look for a debt settlement company that takes fees on monthly to monthly basis. Also, there should be no maintenance fees associated with accounts. Although, it might seem difficult at first, in finding such agency but the effort will be worthwhile as the debt settlement company will indeed be reliable because it follows good business practices.

3. No, high percentage feesThe industry norm for debt settlement companies is somewhere between 10%-20% of your debt. The debt settlement company will charge this to negotiate a debt burden reduction of somewhere up to 50% or more. If a debt consolidation company demands more than this, stay clear of them. It will be good if you shop around for the best debt settlement rates by comparing various offers.

4. The debt settlement company should be listed with BBBBBB stands for better business bureau. It constantly scans various companies for business practices they follow and adopts only those who is ethically professional. By checking the BBB record of a debt settlement company you can guess how reliable it is. It will ensure that you are dealing with right, honest and professional people.

5. Get feedbackAsk for previous clients of a debt settlement company, and contact him if possible. Lookout for friends, colleagues and associates who have undergone debt settlement in recent past, know their experiencesFind Article, this would help you gain a better insight into debt settlement process and might provide you something which could save a lot for you.

Article Tags: Right Debt Settlement, Debt Settlement Company, Right Debt, Debt Settlement, Settlement Company, Stay Clear

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


Duran Mueller an expert author and credit card consultant, provides great American express credit card tips. Read more credit card articles at his credit card website.



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