Good Debt Settlement Companies – 3 Things You Need To Avoid When Making Your Choice

My friend, good debt settlement companies are not easy to find these days, and here’s why: the barriers to entry in this highly lucrative industry, have been reduced slightly. On top of that, the worsening economic situation, has caused many opportunistic businesses to venture into the industry, all with the aim of making a quick buck. Which leaves you, the consumer, in a rather precarious situation.

Bottom line: you have to be vigilant! And this article will show you how to do that. I’m going to share with you the three things that you must avoid when choosing a debt settlement company to represent you.

Pitfall #1 – High Fees

Debt settlement services aren’t free. But it doesn’t mean that they should cost a fortune either. When selecting a company, pay close attention to their fee structure. Always do a comparison with other companies to see if what they are quoting is near the industry average.

You must also be vigilant against companies who try to charge you for an initial consultation. After all, why should you pay someone to just look at your circumstances and state the obvious; you already know that you need debt relief. Good debt settlement companies offer a the first consultation free of charge.

Pitfall #2 Poor Customer Support

There should be no compromise on your part where customer service is concerned. Accept the best, and nothing less. You see, if a company from the outset is not responsive, or very efficient in how it deals with you as a customer, then chances are it won’t do a good job representing you. The debt settlement process is very skill intensive, particularly when it comes to negotiating. Avoid companies that aren’t efficient.

Pitfall #3 Short Tenure & Splintered Focus

The first thing you should look for in tenure is that a company has been around for a reasonable time – 2 years minimum. This threshold will give you enough room to research their activities and see how they’ve performed in the past. Checking organizations such as the Better Business Bureau (BBB) can give you solid data on a company’s performance. The second thing you want to look out for is that the company isn’t doing too many “other” types of business. Debt settlement more or less, should be it’s main focus. Otherwise you run the risk of not getting your needs met.

Avoid the 3 pitfalls above, and you’ll definitely make a good choice from among the good debt settlement companies.