subject: Debt Settlement Info - Who Makes Sure Debt Settlement Companies Give You A Good Deal? [print this page] Debt settlement was not a sure deal and there were a lot of complaints about this process because many companies just asked for the money in advance but did not threat the negotiations as they should. Many consumers were left in a worse situation than the one they first started in. There were also a lot of fake companies that could have been found online and they used to take money from several clients and then disappear, leaving them with no money and with the same amount of debt they already struggled with. There have been over 3.500 complains to the BBB about shady debt settlement companies since the recession started and more consumers were forced to use this option as a last alternative to bankruptcy.
There are now new laws that promise to solve this problem and stop debt settlement companies from taking any upfront fees. You hire a company and let them handle the negotiations and after they finish and you see your debt reduced, you can pay the fees of the company for the services they offered.
This new law is approved and monitored by the Federal Trade Commission which assures that debt settlement companies follow these laws and also give you a good deal. If you do hire a debt settlement company and you feel like you are not treated right or that you could have got a better deal, you can make a complaint at the Better Business Bureau. These complaints will be filed and the company will be notified and if the problem persists and more consumers notice that this company is not legitimate or accurate about its success rate, it will be closed down to avoid any further damage.
A good deal might mean a more expensive debt settlement company but it also means better services and it might be worth it in the long run when although you pay more to the company, you pay less to the creditor. At the end of the day it is up to you to make sure that you get a good settlement deal and that you clear your debt as fast as possible with the help of debt settlement.
Debt settlement is a legitimate alternative to filing bankruptcy and often makes sense for consumers on the verge of bankruptcy. There are also other debt relief options available so it would be wise to speak with a debt relief specialist to go over your different options.
Debt Settlement Info - Who Makes Sure Debt Settlement Companies Give You A Good Deal?
By: ketty archer
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