Paying off debts can be a daunting task. However, by working with a trustworthy debt settlement company, you can make the process much easier. There are several ways to tell if a debt settlement company is trustworthy. These include the nature of the initial contact, the charging of an upfront fee, the nature of the advice offered, and questionable contact info that is not verifiable.
The Prudence of Due Diligence
Checking the company on the Federal Trade Commission (FTC) and Better Business Bureau (BBB) is another way to find out where the company is trustworthy. The truth about Freedom Debt Relief is that it will wait at least until the first payment has been made to your creditor before it asks for fee. Freedom Debt Relief is legit as it has helped thousands of people get out of debt. It is a founding member of the American Fair Credit Council (AFCC).
They offer a variety of services, including debt negotiation and debt settlement, that can help you get out of debt quickly and efficiently. Working with a trustworthy debt settlement company like Freedom Debt Relief can give you peace of mind knowing that you are in good hands. They have a proven track record of helping people get out of debt, and they can provide you with the tools and resources you need to get out of debt as well.
Below are things that you should look for to determine whether a debt settlement company is legit.
The best way to gauge a debt settlement company’s trustworthiness is to look at its track record and see if it has been accredited by the Federal Trade Commission (FTC) and the Better Business Bureau (BBB). The FTC is the primary federal regulator of debt settlement companies, and it has strict rules in place to protect consumers. Any company that is accredited by the FTC is subject to regular audits and must follow strict guidelines. The BBB is a nonprofit organization that rates businesses based on their customer service and complaint history.
Only companies that meet the BBB’s high standards are accredited. This accreditation shows that the company has met certain standards of quality and customer service. Therefore, be sure to check the credentials of a debt settlement company that you are considering working with on the FTC and the BBB. Doing so will protect you as a consumer and give you peace of mind knowing that you are working with a legit company.
Charging Of Upfront Fees
A debt settlement company that demands upfront fees to settle a debt is fake as this is an illegal practice according to FTC. Freedom Debt Relief will first negotiate a settlement, have you go through it and sign it, and wait at least until the first payment has been made to your creditor. Freedom Debt Relief is legit as it helps you create a debt management plan and does not charge fees until at least one payment is made to your creditor.
The Nature Of The Initial Contact
Normally, trustworthy debt settlement companies make all the information about their operations available to the consumers and let the consumers contact them when they decide they need their services. On the contrary, fake debt settlement companies tend to contact the consumer first claiming they can wipe their debt out and making other ridiculous claims.
To protect yourself as a consumer, you can always ask for a free face-to-face consultation with a representative from the company. Meeting the consultant will allow you to know them, ask questions and get more information about their services.
The Soundness Of The Advice
A trustworthy debt settlement company will help you handle the creditors while leaving you to make major decisions. However, fake debt settlement companies may advise you to cut all communication with your creditors. Doing this may make things worse for you.
That is why trustworthy debt settlement companies leave this decision to you.
Also, other ways to tell if a debt settlement company is trustworthy are by reading customer reviews and testimonials. The reviews can give you a good idea of the company’s level of service and whether they can deliver on their promises.