Ever seen that ad which promises to save you from a financial storm through debt settlement program? Well, these ads may fill your heart with a hope for a debt free life but it would be a mistake to believe them without doing any homework. Remember, nothing is as simple as it seems to be. If you’re really thinking about approaching a debt settlement company, then start your prep work right now.
If you don’t find an honest debt settlement company, then you could enter into a bigger financial storm in the future.
There is no shortcut to spot the best debt settlement company in town. However, there are a few pieces of advice that may help you discover a credible company and these are:
Caution Beware of any company that claims to be non-profit
The term ‘non-profit’ is enough to gain your trust. But not all companies are non-profit or reputable. Rather, a lot of companies claim to be non-profit just to manipulate you. So, beware. Check if they have received a 501 C (3) certificate from the IRS. Besides, compare their fee structure with that of the for-profit companies.
Questions you must ask 1. Ask if they settle secured debts?
Reason - Secured debts can’t be settled. If a company promises to settle secured debts, then it is surely a scam.
2. Ask how will they take to protect your information?
Reason - Confidentiality is important and crucial especially when you want to protect your financial information from everyone.
If you’re really in financial trouble, then understand the negotiation process first. You can even call at (800)-530-OVLG to solve your queries. Once you get a clear idea, start looking for a good debt negotiation company.