6 Steps to Use in Choosing a Debt Relief Service

Debt settlement is one way out of a financial rut and it comes with myriad benefits. You have the option of avoiding bankruptcy and in the same breath; you get a flexible repayment schedule which is a reprieve if you are debt-ridden.

moneyWhile benefits are legion, there is a catch – you can only enjoy them when you use a credible debt relief service. If you have been looking for a way out of your debilitating debt, it is time you learnt how to get the best service from a reliable debt settlement company.

Here are some factors to consider:

1. Start at the Bureau of Better Business (BBB)

If a company is offering reliable services to consumers, they are wont to share this information. With increased information flow, you will learn whether a debt settlement company is accredited with BBB and also view the number of complaints against it if any.

2. Check Licensing and Registration

Before even reading reviews and testimonials from customers, make sure the company is operating legally. As such, check whether it is a member of the American Fair Credit Council (AFCC) as this assures you a particular debt settlement firm is under the guidance of ethical standards.

Moreover, look for organizational affiliations such as the International Association of Professional Debt Arbitrators to prove these professionals are highly skilled and trained in the trade.

3. Look at the Fees Structure

There are myriad laws regarding debt settlement including the Fair Debt Collection Practices Act, which make it ethically wrong to charge upfront fees. As such, look for a credible company offering national debt relief programs without bogging you down with more maintenance costs.

Some companies will charge a percentage fee for the enrolled debt while others charge according to the negotiated amount. These fees have to be in the contract to avoid legal tussles later. A reliable company will also offer free consultation because it appreciates your current financial situation.

4. Customer Support

You should work with a debt settlement company that is able to provide sufficient information on the services you are getting. These professionals should be readily available to assist you when you need information regarding their services.

As they are confidants to your financial situation, a debt relief service should be able to rise to the task any time you need its help.

5. Service Fee Money Back Guarantee

If a company is offering a chance to cancel with no fees or penalties, it is already confident of the service offered. More importantly, if a company promises a full service fee guarantee you have the assurance of getting out debt fast based on their superior negotiation skills.

6. Use Customer Reviews and Testimonials

Before signing up with any debt relief firm, make sure you have read customer reviews and testimonials. These resources paint a better picture than what you get from referral pages as annoyed customers will always be quick to speak out.

It is also crucial to check flexibility of a repayment program and ensure it suits you perfectly well.

More importantly, check the success rate of the debt settlement company to be sure you are working with professionals in the field.