My cool articles: How to Choose a Debt Settlement Company

As consumer debt continues to spiral out of control, debt relief is fast becoming a major concern for many Americans. In 1999, the U.S. is doing $ 1.1 trillion worth of purchases with credit card. In 2001, credit card debt hovered around U.S. $ 690 billion. Unfortunately, under today's volatile economy, many Americans are forced to turn to credit cards as a way to expand their income. Consumer debt is at an all time high and American should know what they can do to get out of debt. Often, consumers are seeking the services of professional debt settlement companies to help regain control of their finances. However, before making such an important decision, it is important to fully understand who you are doing business with.

The most important thing you can do when deciding to get help with your debt problems is about to be an informed consumer. This is absolutely critical to do your research. Do not rush into things, it can cause more harm than good. Before signing with any debt settlement company, make sure you ask the following questions and consider their answers:

* Is the debt settlement company you are accredited by the Association of Settlement Companies (TASC)? Personally, I would not consider doing business with any debt settlement company that is not! TASC accreditation reduces risk for customers and gives total confidence because the member company has been assessed independently by a third party for its competence and performance capabilities. Any company that really has the best interest of the customer in mind will take time, and make the effort to do so. While the process can be long and hard at the end, it is good for the consumer and the company.

* The service cost? When choosing a solution for debt relief, it is important to ensure the program is something that is affordable and realistic within your monthly budget. If you can not afford and join the program anyway, you're just causing more long term financial problems for yourself, but if you are able to meet the monthly financial requirements of the program, debt settlement is a great form of debt relief for unwanted credit card debt. Most people do not realize that debt settlement is the most rapid and less expensive outside bankruptcy debt relief.

* Does the company provide any service guarantee? If yes, what is the guarantee? If a company can not get solutions to your debt, you should not have to pay a fee, or payment must be fully repaid. In addition, steer clear of any debt settlement company that promises a quick fix to your debt related problems, or tells you that debt settlement will not have a negative effect on your credit. By enrolling in a debt settlement program, your credit score will probably get worse before it gets better. This is a small price to pay to be awarded a substantial settlement and no debt to file for bankruptcy! However, it is important to realize that if you want to keep a "good credit rating", you have to pay you bills on time, everything else will cause your credit score will suffer.

* A debt settlement company you are considering have IAPDA certified debt arbitrators? IAPDA certified debt arbitrators have a solid understanding of the laws that regulate debt settlement industry and fully understand your current financial situation.

* A debt settlement company you are offering any kind of assistance should not bankruptcy debt settlement work for you? For example, some debt settlement company will offer a refund of some program costs to help pay for a bankruptcy lawyer of your choice. Of course, the funds will be paid to a licensed attorney and not directly back to you. Again, a company that makes this most likely have your best interests in mind.

* A debt settlement company you are considering participating in the local Chamber of commerce? If so, is a member of the accredited Chamber of Chamber of Commerce of the United States? This kind of background will help to ensure that the company is conducting business properly.

* Is the debt settlement company you are considering a member of the Better Business Bureau? It does not matter. Unfortunately, the BBB does not yet know how a debt settlement industry, because, in my opinion, being misinformed by the credit card industry and their agents, credit counseling industry, about the effectiveness and success rate its participants. As a matter of fact, some states allow the BBB has no debt settlement companies to even join the BBB, and BBB has a rating scale that tends to give the debt settlement company a D or F rating just for the industry of belonging. This is a disservice to consumers because it does not allow consumers to distinguish between reputable companies debt settlement and those that are less than desirable. For consumers who are really interested in doing research for a qualified company debt settlement, a major source is the Internet Association of Settlement Companies,

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Thursday, June 23, 2011

How to Choose a Debt Settlement Company

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