When you are left with no other option rather than reaching out to debt Settlement Company, you should look for few questions to be answered before registering with them.
1. Did the company inform you on the process and seek your input on all the alternates available? To start with a debt settlement program, clients should know how the entire procedure moves forward. The agency should be open to letting you know right from budget planning to bankruptcy Ottawa.
2. Will the company be demanding you fees before bringing your debt numbers down? You should not compromise to commit any fee before they bring down the debt numbers low. You can’t say, “Yes” to whatever the salespeople from these agencies confess. They may ask you for an initial fee saying that they should pay for the Attorney, which is really high, but these are money-minting techniques. These people know that in the name of Law any amount of money can be collected easily.
Mostly there is no need for a lawyer to settle down your debt but if you think that would work then pick a lawyer who wouldn’t charge you any fee before debt reduction. If you are in a dilemma of deciding whether to pay your debt off or save money for later then you can glimpse through this article, http://financialmentor.com/financial-advice/payoff-debt-or-build-wealth/5884
3. On what basis is the fee charged by a Debt Settlement Company? Few companies charge a flat fee when you register with them respective to the debt amount you owe and few have a savings based plan.
4. Is there any fee to be paid monthly? There is absolutely no need to pay any fee if the Settlement is not done. Whatever new names they give to extract money from you, don’t get cheated. There may be few companies, which ask for “trust Account Fee” which is a very low fee and paying them shouldn’t be an issue.
5. What about the previous clients BBB is the right place to search for the agency, its ratings and how they been treating the customers. If the agency has many complaints registered against them, then step back from them.
6. Is the agency an AFCC Member? The American Fair Credit Council (AFCC) has a series of rules to be followed that says about how the details of the process have to be explained to the customer, increase customer satisfaction and rate of completion. There are a lot of new agencies giving an entry to this field and publicize that they have been there forever so you can check their truthfulness in AFCC.
7. Is the agency a participant of IAPDA? If they are a representative of IAPDA, they should qualify their certification and coaching since they believe once with proper coaching they can lead their clients in the best quality service.
8. Can the money for service be refunded? If the company is customer centric then they many have a satisfaction guarantee in which they will refund the money you paid for their service.