Selecting a Debt Settlement Partner

Consumer Debt Help Association discusses selecting a Debt Settlement Partner.

A debt settlement company will be  1 year or  longer term business partner. Monthly updates are routine for a solid partner. Use these other areas to help you  assess your possibilities. Before you begin make this your “First Action Item” 


Contact the BBB of its corporate headquarters city to see if they are a member. Is the debt settlement company a member of the Better Business Bureau? How highly are they rated.  A+ is the highest and rare among this industry? Do they have complaints in the last year , 2 years, life time ? How long have they been in business. These simple steps assist  your verifying the reputation of a qualified debt settlement company.  After you find an A+ rated company explore the areas below.
 Is you partner accredited? 
Accreditation reduces the risk to consumers and gives overall confidence for consumers, because the member company has been independently evaluated by a third party for its competence and performance capabilities. And any company that has the consumer’s best interest in mind, will take the time to inform you about how the process will work for you. Keep in mind that there is no quick fix, and that the process will take some time to accomplish for you to become debt free. Remember one association isn’t necessarily better than the other, as long as the company shows that they are active in one of the trade associations, then that’s a step in the right direction for the consumer.
  1. How much do they charge ?  How much money will this process cost you? When considering a debt settlement company make sure that their program is affordable for you and your monthly budget. Don’t fool yourself if you can’t afford the program and sign up for it anyway, this is just escalating your debt problems further. If you are able to afford the monthly payments for the debt settlement program to work for you, this is the best answer out there. Debt settlement is the best way to handle credit card debt, and the least expensive way out of debt, other than bankruptcy.
  2. Is there a Guarantee?
    Be very careful here as reputable companies that have few or no complaints from consumers build  a sterling silver  reputation by avoiding guarantees that there is no way they can promise to fullfill by law. So if you hear the word ” guarantee” from a company representative ask them a simple question. Will you put that is writing to me today ? And if they do, what is the guarantee?
    On the other hand If a debt settlement company is unable to settle your accounts with your creditors, you should not have to pay a fee for that debt. Also be aware to stay away from a company that promises you that this process will not affect your credit rating, and or that they can fix your debt problems quickly. When you sign up for debt relief with a debt settlement program, yes your credit score will go down before it goes back up. This is the price you pay when your debt gets out of whack, but since you have been given major debt relief by using a debt settlement plan, at least you don’t have to file for bankruptcy and that is the good news. It is important to understand that if you do want to have a stable credit rating, you have got to pay your bills on time, because if you don’t, your credit score will drop significantly.
  3. Do they have a dedicated settlements department?
    Does the debt settlement company that you are considering, have IAPDA certified debt negotiators? IAPDA certifies debt negotiators who have a solid understanding of the laws governing the Debt Settlement industry and who will fully understand your current financial situation.
  4. Do they offer bankruptcy assistance? 
    Check on whether or not they offer bankruptcy assistance. Does the debt settlement company that you are considering offer any type of bankruptcy assistance. If so this means they are primarly a  law firm or a subsidiary of one and their primary activity is law and truly not specialized in debt settlement. Select a seasoned specialist in debt settlement and avoid higher fees and costs.
  5. Will you have a excllent personal Client Representative?                                      If not, its not in your best interest.

    CDHA Client Services
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While this list is offerred for your education and comments, we think the best way of measuring a client is how you are treated from enrollement to completion. So if that first call sends up any warning signals trust your inner self.