TO BE FREEDOM OF FINANCIAL

If you want to find out whether your settlement company is a legitimate service provider or not, you should ask the following questions when you are negotiating the fees payable to the company.

The first question is whether the settlement company offers a money back guarantee in the event of failure to get a settlement. If the company responds by stating that they can guarantee performance but cannot guarantee repayment in case of failure, it is best to deal with some other company. On the face of it, money back guarantee may seem like very cheap thing to ask.

However, you should keep in mind that the settlement company merely acts as a bridge between the lender and the borrower. If the lender refuses a settlement deal point blank and communicates that it would not mind if borrower opts for bankruptcy, then all the money that you have paid to the settlement company will go waste.

You can overcome this risk by asking for a money back guarantee that will protect your money in the event of failure of the settlement company.

The second question that you should ask is whether the company offers installment facility. If the company simply refuses this option, then it is not probably affiliated to TASC. The guidelines of this body require its members to provide installment facility on a compulsory basis. The collection of fees is to be done over a period not less than half the duration of the settlement. When the trade association itself provides for installment facility, then where is the question of the settlement company refusing the same?

The third question that you should ask is whether the company shall withdraw bulk of its fees up front or whether it shall do so in small proportions. This is another factor that will help you identify fraudulent companies. Genuine company will not mind postponing the withdrawal of bulk of fees to the second half of the settlement program. On the other hand, fraudulent company often insists on instant and immediate withdrawal.

All above points will increase the risk of default faced by the settlement company. However, if you are providing adequate satisfaction and guarantee to the settlement company, there is no reason why it should bear slightly higher risk to protect your interests. Rather than the actual answers, you should look for whether the settlement company is ready to negotiate or not. If the company is prepared to be flexible, then you should go ahead and deal with the same.

If you are over $10k in unsecured debt it would be financially prudent for you to consider a debt settlement. There are organizations that exist called “Free Debt Relief Networks” that are a great place to start in locating legitimate debt settlement companies in your region. They provide free debt help and know where to locate the top performing debt settlement firms. To get free debt help check out the link below:

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