Now that you are getting help to reduce your debt, you decide to choose a debt settlement company that would help smooth things out.
Hopefully, you have done enough research and concluded that this is the best thing for you.
There still things that you might not know you had to do before contacting the company to discuss further action.
Among them are: 1.
Is the company registered with The Association of Settlement Companies (TASC)? If it is, then the company is legitimate.
It is very important that you make the company you have chosen has been reviewed by the TASC.
TASC does quite a number of things which includes lobbying on behalf of the settlement companies on the federal and state level.
2.
Availability of debt relief programs The federal stimulus was granted to a majority of big credit card companies to help them out during the economic downturn.
As a result, many financial institutions have the ability to forgive debt up to 70% of the original amount! Why can't they? They are being helped by the government.
What this means for you is that your professional help might be able to reduce your debt to up to 50% or more! 3.
The industry is profitable Now that we are in the business of spending money we do not own and cannot pay back the money, these companies are growing like mushrooms.
They are everywhere! It makes sense as this is a profitable industry.
America has never been in such debt and with the federal stimulus plan; many consumers are turning to debt settlement for help.
4.
Settlements are getting more generous The main concern of creditors is how to collect on the non-secured debt.
With the bad economical situation, may people are in deep debt and are unable to pay their dues making defaulters very high.
If you are in debt of more than $10,000, talk to a settlement agent as creditors are only interested in getting their money back so they are agreeing to settle for a fraction of what you owe them.
Hopefully the above tips will help you to make the best decision and provide the best assistance in solving your debt woes.