Debt Settlement & Credit Counseling Companies

[lindadale]

I am agree with kairon. Debt settlement is great way to reduce debt. By debt settlement one can get strong legal protection.

[Eric80]

There is some great advice given however i do think that this needs to be done before you get yourself into debt- if you are in debt and you feel that there is no return then don't worry because there is! I was one of those people and then i went and spoke to a debt advisor who gave me information on debt consolidation and IVA's debt management plan! it was probably the best this I have ever done and I am now able to manage my finances and I am definitely in a better situation

[flipyourdebt]

Debt settlement can be a good last option before bankruptcy. If you do your homework then you won't get caught in a scam.

[gurlnexxdoor]

But if ALL these debt settlement companies are a scam how come the government don't lock them down?
why allow them to deceive us?

[crazyskunk82]

Because the government isn't keeping an eye on everything. They don't have the resources. They can't keep up with every little company that does these things. It's up to people to report these companies so the government can find them.

[esterdsl]

There will always be scoundrels waiting for an opportunity to make money off the misfortune of others. The most common scams nowadays are the loan modification & of course debt settlement scams.

You can always do some research and try to negotiate with creditors and lenders yourself - that is the best way to avoid being scammed. However, hiring a reputable debt attorney will increase your chances of having a successful debt settlement.

Make sure the attorney you hire meets this criteria:

1. Referrals
2. Experience
3. Realistic Promises
4. Licensed
5. BBB Member
6. Trust Fund - Your payments should be made out to a trust fund in your name.
7. Ease of Contact
8. Fees should be fair - not outrageous. Free consultations & no up-front fees
9. Insured & bonded
10. FTC Compliance