By my own count, there are some 7 different ways available which have been identified by experts as the basic options to debtors by which they may seek to get out of debt. Those options range from bankruptcy, debt settlement, debt consolidation, and loan modification programs, to credit counseling and the “do-nothing” approach.
In today’s American economy, there are two related options which consumers seem increasingly to be turning to in attempting to resolve their debt problems. They are the debt negotiation and debt consolidation advice options. That is, consumers hire and rely on debt settlement companies to process their cases for them.
How Do You Tell the Good Companies from the Bad Ones?
In this regard, a common question often asked by debtors who seek to undertake the task, often goes like this: how do I find best debt company that does debt negotiation or settlement and is legitimate and reliable, and not a fraud?
Hiring any debt relief company is just like hiring any professional to do a job for you – there are GOOD ones and there are BAD ones, and hence you’ll just need to do your homework.
There are So Many of these Companies to Sort Through Today
By one recent study done by one reputable internet investigation site, there are an estimated 4,000 companies in the United States today that offer debt negotiation, credit settlement and/or debt consolidation advice. Each one of these companies are out trying to out-do the other — through constant advertising bombardments and claims on the Internet, radio and TV, newspaper ads, etc — that their own particular brand of services is purportedly the most excellent and highest quality of all. Consequently, finding a truly good or the best debt company by a consumer under such circumstances, is not at all an easy task. So, how the heck can the average person tell the good ones from the bad ones?
Hence, it is critically important that you choose the right company. Like any other industry, there are good companies, and there are bad companies.
So, how the heck can the average person tell the good companies from the bad ones?
Researchers at one reputable at the above-mentioned online internet review site who conducted a major in-depth study on this vital issue, sought a definitive answer to this issue of how to find debt company that’s the best that does debt negotiation and credit settlement. Or, how to tell the very best companies from the bad ones?
They came up with the following answer: simply use some 9 carefully chosen “Key Relief Evaluation Criteria” or KDREC in evaluating the right debt settlement company to hire.
THE 9 KEY DEBT RELIEF EVALUATION CRITERIA BY WHICH TO EVALUATE AND RATE THE BEST DEBT NEGOTIATION OR CONSOLIDATION COMPANY TO USE
1: A check to ascertain membership of, or accreditation by, one (or more) of the recognized accreditation institutions for the debt
The best debt settlement or consolidation companies are usually accredited with either one or the other of these:
a) The Association of [Debt] Settlement Companies (TASC); or
b) Association of Independent Consumer Credit Counseling Agencies (AICCCA); or
c) National Foundation for Credit Counseling (NFCC)
2. The Reputation of the company. Includes the Dependability Factor. How long has the company been in business? Is this a
company you can trust?
3. Variety of Solutions. Does the company only offer ONE debt relief solution? Or are they well-versed in a number of options?
Having a variety of choices means they can find the right debt relief program that fits your specific needs.
4. Cost. How does the debt relief company get paid? The best ones will earn their money from a percentage of what they save
you; that way, they only get paid if you save money.
5. Does the Company Readily Offer or Volunteer Some Information and Free Counseling
6. What Does a Background Check on the Company Reveal About Experience, Quality of Personnel, etc – on certain issues of law,
credit, policy, etc?
7. Are There Reviews from Respectable or Objective professionals, journals or Review Media or Organs on the Company’s Services
8. Does the Company Offer Lessons or Programs Tactics for Staying Out of Debt?
9. Provision for Fees & Payment Schedule Modification In Case of Emergency?
A FEW ADDITIONAL CRITERIA
Experts say that you should first whittle down all the companies you can find and narrowed them down to a manageable number, say to a dozen or so. Thereafter, just to be really sure that you are sure to have the very best settlement company, you may now apply a second and final set of criteria to the initially selected group to try pick the very TOPMOST and best one you should go with out of the whole pack. Criteria such as these:
The SECOND 9 Criteria
==Written guarantee by a company for overall savings.
==Service affordability for the average person.
==Evidence of large amount of savings to clients.
==Has company successfully reduced millions of dollars of consumer and small business debt.
==Customer satisfaction response times..
==Does company help protect clients’ credit standing.
==Is customer reasonably able to speak with their debt negotiator whenever they want or was necessary.
==Flexibility of the program based on what a customer may have available on a monthly basis.
Properly done, employing these criteria should immediately give you the very best debt company that does debt negotiation and credit settlement, and provides the best debt consolidation company that’s absolutely reliable and almost guaranteed to eliminate any debt settlement fraud for you.
To conclude, let me repeat. It cannot be emphasized enough, picking the proper debt settlement or consolidation advice company that’s competent and reliable, is the whole KEY. With the right one, it can help you have a much better deal, you can save some 40-60% on your debts. But it takes, however, a little time, a great deal of patience, and, most especially, some considerable research to be able to get the best one of such companies.
If you do your “homework” by following the above-outlined tips in picking the company to use, you’ll dramatically reduce, even completely eliminate, the chances of getting scammed and ripped off. And most importantly, you’ll increase the chances of getting the proper financial help and settlement you need!
The Good News
The good, even BETTER news, is that actually certain reputable online review organizations have already done the kind of detailed evaluation work on debt relief companies of the type we’re talking about, using exactly the same selection criteria outline above. They comprehensively studied, evaluated, graded, scored and ranked the companies in the debt relief industry and came up with a finalist list of Top One Dozen Companies, as well as the topmost one in the country.