Since the global economy crisis last year, debt has become part of life for many Americans. Due to this reason, there are many debt settlement companies actively in business operation currently. However, not every service provider can be trusted because there are many of them which only aim to gain advantage from their clients without placing their clients’ benefits as priority. Frankly speaking, there are too many unethical companies in the market and it makes our selection process more complicated.
Let’s me share some of the useful tips with you. In order to prevent yourself from being trapped by scams, you need to look for the reliable sources to obtain information related to settlement companies. Do not simply choose a company through advertisement or promotion. It is important for you to follow the guidelines below.
A trustworthy debt company should fulfill the following requirements:
1) It must be accredited by The Association of Settlement Companies (TASC)
2) It must be a member of the local Chamber of Commerce of United States
3) It must be endorsed by the Better Business Bureau
Besides the three recognized bodies, a company which is endorsed by some other pro-consumer groups can be accepted too. At the same time, you can also call your local Social Services Office for referrals. The officers normally are able to provide you with the list of reputable service providers.
Last but not the least; beware of those companies which offer instant fix on your debt problems. They are 100% scams. The normal duration for a debtor to complete a settlement process is about 2 years. Hence, it is totally not reasonable if a company can offer you such ridiculous service.