Home » Finance

7 Tips on Finding a Debt Settlement Company For Your Credit Card Debt

Aug 29, 2008
Some people are looking to settle on their credit card debt, but aren't sure how to how to go about it. There are many debt settlement companies out there that specialize in settling credit card debts, but sometimes it can be difficult to determine if it's legitimate or not.

Some of them are reliable and reputable, others are nothing more than shams and frauds that just want your money. You'll still be sitting with a mountain of debt while they've moved on to their next victim.

One way you can be sure you are getting a good deal is to do negotiate your debt yourself with help from sites like http://www.no-debt.net/debt-info. If you are thinking of going this route, there are some things you need to know before you commit to a debt settlement company. Here are 7 tips you should take heed of prior to picking one:

1. Within the debt settlement industry, there is a trade association called TASC or The Association of Settlement Companies. This association works with its members so that they will be in compliance with the standards and rules of the industry. If the company you want to use is not a member, then find another debt settlement company.

2. You need to know up front what kind of fees the credit card debt settlement company will charge you. Some of them charge one flat fee. This flat fee is determined as a percentage of your total debt cost. Some of them get this fee each month. They even get it when no settlements have been finalized. The fee should be connected to the result of the settlement and not as a percentage.

3. If you want to know about money back guarantees, they should be at least be good for 30 days. If it isn't then don't accept the agreement. Don't allow the debt settlement collectors to talk you into something less than 30 days.

4. If you ask about commission and they tell you yes--watch out. They might try to railroad you by charging you exorbitant fees. Forget it and move on.

5. When dealing with credit card debt settlement companies, your credit will be affected negatively. If you ask and you're advised otherwise, then that's a red flag to not do business with them.

6. Asking how long it will take to finish the credit card debt settlement is like asking when you will stop growing. No one knows the answer to that, and the collectors don't know the answer about time frames. If they tell you otherwise, they're lying just to get your business.

7. When you ask about your first settlement, they should tell you that it should be done within 12 months. Anything longer than that is a lie and a fraud.

Once you get these questions answered, you should have enough information to determine whether or not you will select them to represent your credit card debt settlement. You can also check with your local consumer division as well as the Better Business Bureau to see if they are legitimate or have numerous complaints against them.

It's better to be informed and educated up front than wait until later to get scammed.
About the Author
Debt settlement can have a positive impact in your life. If your tired of sweet smoke and promises, get the facts about debt settlement at http://www.no-debt.net/debt-info
Rating:
Please Rate:
(Average: Not rated)
Views: 137
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources