If you’re considering using a debt settlement company to help you reduce your debt, it’s important to ensure that the company is legitimate and trustworthy. After all, many companies out there claim to be able to help you settle your debt but end up doing more harm than good.
Here are ways to tell if a debt settlement company is trustworthy to work with:
Check Their Credentials
Before signing up with any company, ensure they have the proper credentials, such as certifications from reputable organizations like The National Foundation for Credit Counseling (NFCC). This ensures that they follow industry standards and best practices. In addition, ensure they have proper licensing to operate in your state. Ascertaining if a company is credible could be the difference between receiving reliable services or facing further financial difficulties. Contact the agency or organization that issued the company’s certification to verify its credentials when in doubt.
Research Their Reputation
An important way to check a debt settlement company’s trustworthiness is by researching its reputation online. Checking online reviews and asking for referrals can be beneficial in assessing a company’s trustworthiness. The surest way to ascertain if a debt settlement company is reliable is by speaking with customers who have already worked with them. Consumer testimonials offer the clearest picture of how the process works and whether it was successful. A simple search of “COMPANY X is freedom debt relief legit” will provide you with plenty of information from customers who have used the company’s services before.
Learning about their customer service turnaround time and talkative staff can also provide useful insight. If a company responds quickly and consistently to customer inquiries, it usually indicates they intend to build a good rapport and have people’s best interests in mind. The Better Business Bureau (BBB) is also a great source for research, as it provides ratings and customer complaints. Doing due diligence on the company’s online reputation will save you from scams like the ones highlighted at Freedom Debt Relief.
Read Their Contracts Carefully
When considering debt settlement companies, the most important thing a person can do is to read the contract carefully. Don’t be fooled by flashy websites and seemingly impressive customer service representatives; many companies may give lip service to providing an exceptional customer experience without following through with the legal side.
Reading their contracts will tell you if a debt settlement company goes above and beyond in protecting their customers, such as having clear and concise disclosure statements regarding fees, adequate information about dispute resolution procedures, and comprehensive cancellation policies.
If a company’s contracts are too vague or incomplete, it shows they may not be trustworthy. Understanding a debt settlement company’s policies upfront will ultimately save time and money in the long run.
Asking questions is an integral part of considering using a debt settlement company to help resolve your financial woes. Important questions to ask include: How long does the process usually take? What are the fees you charge? Do you offer any money-back guarantees? Do you provide dispute resolution services in case of a disagreement with creditors? With the right set of questions in mind, you can use them to help evaluate potential prospects for getting out of debt and make an informed decision about whether or not that particular firm is trustworthy.
Trust Your Gut Feeling
Ultimately, it is important to remember that trustworthiness is key when choosing a debt settlement company to help eliminate your debt. Besides following the above ways to tell if a debt settlement company is trustworthy, always trust your gut feeling. If a debt settlement company seems too good to be true or has unrealistic promises, it may not be reliable or trustworthy. Research potential debt settlement companies and ask as many questions as possible before signing any contracts. Doing so can help you avoid potential scams and find a reputable debt settlement company that has your best interests in mind.