How To Choose A Debt Settlement Company
As more people are finding debt settlement as a viable option to settle their credit card debt, it is becoming difficult for consumers to know which company to choose. The most important thing is to know what criteria should you consider in choosing a debt relief company.
As the debt relief industry has exploded, companies are being formed everyday in hopes to capture the "hot market", but these companies hardly want to stay for the long term. In that regard, debt settlement companies are vital in today's economy and choosing a debt settlement company is ever so important.
Questions To Ask A Debt Settlement Company:
- Is the Debt Settlement Company A Member of TASC (The Association of Debt Settlement Companies)?
- Is the Debt Settlement Company A Member of the International Association of Professional Debt Arbitrators?
- Does the Debt Settlement Company Charge All Its Fees Up-Front?
- How Much Does the Debt Settlement Company Charge?
- How Long Is the Right-of-Recission Period For the Debt Settlement Company?
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Did the Company Explain How the Program Works and Consultant You On All Your Options?
Before enrolling into a Debt Settlement Program, consumers should be fully aware of how a debt settlement program works. The consultation should have also included other possible options available to you including filing for bankruptcy and credit counseling.
- Are You Dealing With A Full Service Debt Settlement Company?
- Does the Company Have Many Client Complaints?
- Does the Debt Settlement Company offer a Service Fee Money Back Guarantee?
- Will you have online access for your account to view and track your progress?
- Recent Activity & Progress
- Settlement Offers Made & Received from Creditors
- View Enrolled Accounts
- Update Personal Contact Information
- Send Requests Directly to the Client Care Department
The Association of Debt Settlement Companies focuses on promoting good practices in the debt settlement industry & protecting the interest of consumer debtors. Members of TASC must follow by a strict set of guidelines that include proper disclosure for consumers and maintaining practices to maximize consumer experience and completion rates.
If a company is a member of TASC, you can rest assure they are committed to Debt Settlement for the long term. First Choice Debt Relief is a TASC Debt Settlement Company Member.
Companies who are Members of the International Association of Professional Debt Arbitrators have passed through a certification process. This certification program requires that the participants review course material relating to the Fair Debt Collection Practices Act, Budget Analysis, Negotiating Techniques and Proper Communication with Creditors.
First Choice Debt Relief is a certified member of the International Association of Professional Debt Arbitrators. We are committed to providing our clients with the highest possible service and this can only be achieved by providing our staff with up-to-date training.
Some Debt Settlement Companies are more concerned with making money than giving their clients the best possible service. If a Debt Settlement Company is charging all its fees up front, it is best to consider choosing a debt settlement company that spreads its fees over time. With this Savings Plan Strategy, you will have more money saved and be eligible for settlements sooner.
Here at First Choice Debt Relief, we never collect our entire service fees up-front. In fact, most of our clients start savings in the first month. Throught the program fees are typically spread out no less than half the program length. This gives all of our clients the best possible chance to reach settlements in the early phase of the program.
First Choice Debt Relief service fees are a flat 15% of the total enrolled debt into the program. No Additional Monthly Maintenance Fees. No Settlement Fees.
Look out for companies that are charge service fees based off the savings. Many times this will end up being more expensive and will not include monthly maintanenc fees that will add up!
A Right-of-Recission is your right to cancel the agreement after signing it for a short period of time. It is usually in place to give customers the chance to look over the paperwork for a final time, ask any additional questions they may not have been sure about and "sleep on it".
For example, let's say you fill out the agreement on January 1st and have a 3 day rescission period. You could cancel your agreement up until the 3rd day, which would be January 4th, usually without any penalties or cancellation fees.
Most companies provide for a 3 or 5 day rescission period. First Choice Debt Relief provides for a 30 day recission period which is one of the longest periods in the industry. We believe consumers should be able to have this time period to feel as comfortable as they can about their decision. If a company is offering you a short rescission period, they may be too concerned with rushing clients into the program.
A Full Service Debt Settlement Company will handle all aspects of your file from consulting, to negotiating and client support. However, a huge majority of companies are merely signing up clients and then sending it over to a completely different company who handles the negotiations and customer service.
Typically, the company enrolling clients and the company signing up clients are hundreds or even thousands of miles apart! On top of that, the company who is servicing the clients has so many people enrolled that many people get neglected.
A simple search on the internet for the company name will usually give you an idea of how they treat their clients. You can also do a quick search on the Better Business Bureau and see how many complaints the company has against them. If they have a lot of complaints compared to the time they have been in business, stay away!
First Choice Debt Relief is committed to giving each and every client the best possible service and support. Our records speak for themselves! We are an Industry Leader in Customer Service because we focus on each individual’s clients needs as opposed to "signing up more and more." Our philosophy is treat clients the way you would want to be treated.
A Debt Settlement Company should be confident in the services they provide. If the company is focused on enrolling more and more people, they'll likely have little confidence in the service they provide.
We're so confident in our services that we offer each client a Service Fee Money-Back Guarantee. If we can't get you out of debt for less than what you enrolled in (including our service fees), then we'll refund the difference.
Debt Settlement Companies should provide each client with transparency in the status of their accounts and the work performed on their behalf. In most cases, debt settlement companies are "Mom & Pop" type organizations that don't have the resources to be able to provide clients with this type of access.
First Choice Debt Relief provides all clients with online account access 24 hours a day, 7 days a week. Clients can track and view:
If you are a current client and would like to access your account, you can visit here. If you do not have or remember your account log-in information, contact Client Care Department.
