If you landed on this page, it only means one thing: you have finally decided to take control of your financial situation. This is probably a bleak moment in your life, recognising that you are so deep in debt that you need help to fix everything and settle your debts.
Selecting the most effective debt relief company to help you with your financial troubles is the first step to achieving financial independence. Unfortunately, there are probably more scammers out there than the legitimate ones so it is imperative that you do your own due diligence in making sure you do not fall prey into any of them.
This company will be peeking into your financial life. You need to lay it out to them so the debt relief expert can help you come up with the right plan. Not only that, they will be managing your debts for you. They will handle the money that you will send in an FDIC insured account and send them off to your creditors.
That arrangement requires a huge amount of trust so make sure you choose the right company. If things go perfectly, you are not only left free from debt, you should already be in a position to manage your finances wisely.
How to Find a Great Debt Relief Company
Finding the right debt relief company is simple. One of the most reliable ways to seek them out is to ask your family, friends or colleagues for references. If you know one of them who have debt problems and is working with a company to aid in debt settlement, inquire if you can get in touch with the same company. There is no greater endorsement than from a satisfied customer. Ask around and get suggestions from people you know.
If you do not know anyone who have enlisted this service before, you can get in touch with the American Fair Credit Council or AFCC for a list of the accredited debt relief companies. Visit their website and make your selection from their roster and do your research on each of them.
When you have your shortlist of companies, call them and see what they have to offer you. The initial consultation is oftentimes free. During this first meeting, you will also be provided with a couple of data that will ultimately help you decide if you should get their assistance or not. The FTC or Federal Trade Commission and the Bureau of Consumer Protection came up with a Debt Relief Company Guide that will help ensure clients are protected from misleading advertisements and false promises. Below are the details that you need to discuss.
The first data is the list of services that they can provide you. A great debt relief company will provide you with the following services: credit counseling, creditor negotiation, budget plan assistance, debt management, and payment management services.
Based on this list of services, the company should provide you with the amount that you will be charged for the services. This cost must include the terms by which it has to be paid. The government discourages upfront fees so be wary of companies that charge this.
Another important information that has to be disclosed immediately is the expected time that you can work out your debts. National Debt Relief, for instance, can help you work on a plan that will span 2-4 years.
Next to that is the amount that the client has to save up in order to reach the ideal debt settlement amount that will ultimately finish the debt. The company also has to discuss with you the account that will be used to store your debt settlement funds. This is also referred to as a dedicated account. The client remains as the sole owner of that account and they have every right to withdraw the amount in it should they choose to terminate the services of the debt relief company. Of course, any fees associated with the service already provided must be retained for the company.
The rules regarding the payments must be discussed so the client will understand the repercussions in case they fail to follow through with the new debt settlement plan. The goal here is to ensure transparency so everything is understood and there are no hidden fees.
When you have all these details, you can choose which debt relief company has the best to offer.
If you wish to work with an industry expert, give National Debt Relief a call. You can fill out the small form on the right side of this page and we will get in touch with you to offer you our services.