5 Ways to Tell If a Debt Settlement Company is Trustworthy

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Beyond Finance TeamPosted on Mar 8, 2018

So, you recognize that you are not making any progress paying down your debt, and you realize it is time to turn to the experts to learn how to get out of debt. After conducting some preliminary research, however, you become aware that there are literally hundreds of companies that claim they will successfully help you settle your debt for less than you owe. If you have examined your options for how to get out of debt, and chosen debt settlement, a new problem comes to the fore: how do you know if a debt settlement company is trustworthy? The majority of debt settlement companies specialize in sales and marketing only and have no idea how to negotiate a settlement. Fortunately, sorting out the companies worth trusting from the companies that are not is simple – if you know what to look for.

  1. Examine Their Fee Structure. It is fairly standard for a company to set their fee as a percentage of the enrolled debt when negotiating with their creditors; it establishes both a fair method of payment and ensures the company works as hard as possible. If they try to charge a fee before they help you, this is a sign to stay away from them.
  2. Pay Attention to Their Tactics. Choosing this route is not something you should just jump into without speaking with somebody at the company. The most respectable debt settlement companies will also want to speak with you, to explain how they work and to determine whether you will be able to meet the sometimes rigorous needs of the plan. If you get on the phone and experience nothing but high-pressure tactics to “enroll” in their plan, do not do business with them.
  3. Look for the Proper Disclosures. An honest company will give you quite a bit of information on their website or in the content they send you. Not only should fees be discussed, but also the length of time until results are typically reached. Knowing specifically how much money you will save, and the nature of the savings account you set up, is fundamental information. For example, that account should be in your name and the company should inform you that you can withdraw money from it at any time. Be certain there is no lack of communication.
  4. Check Their History. Unethical companies, in the modern era, cannot get very far before somebody raises a few objections to their practices. This is especially true for companies offering debt relief programs. While you will need to keep a salt shaker next to your computer while you study a company’s reputation on review sites, often a quick online search can offer up a good overview of how a debt relief company is seen by its customers. Look particularly for news articles about legal action taken against the company; often if the government feels something is wrong with a company this is a sign to cut ties.
  5. Trust Your Instincts. The best way to spot a company you do not trust, however, is simply the fact that you do not trust them. Debt settlement is built on a strong relationship between the debtor and the company negotiating with their creditors. If you do not trust a company, do you really want to spend months or years working with them? Choosing a debt settlement company to help you with your debt can be a complicated process on many levels. But follow these steps, and you will be certain to find one you can trust.

Why Beyond Finance?

Choosing the right partner is the single biggest decision you will make for resolving your outstanding balances. Beyond Finance is one of the nation’s best programs in terms of overall client satisfaction and graduation rates. We truly have a vested interest in seeing our clients graduate the program free of unsecured debt without resorting to bankruptcy. We do not earn anything until we save you money. Additionally, we charge no upfront fees.

We treat every single client with the utmost care, while creating trustworthy, personal relationships. Beyond’s clients have immediate access to their Client Success Representative to answer any questions, concerns or to simply have a shoulder to lean on. We take pride in educating our clients on the causes of debt and how to avoid repeating the steps that led to too much debt in the first place. We understand that honest, hard-working individuals sometimes find themselves in difficult situations. We understand the stress and anxiety that tough financial times can cause, and we are passionate about providing relief.

Beyond Finance’ program allows our clients to become debt free in as short a time period as possible. The settlement process involves extensive knowledge, so that each negotiation reduces a consumer’s balance by as much as possible. Our rigorous, experienced negotiators are known to relentlessly negotiate until the greatest amount of savings is reached. Not only do we provide one of the fastest and least expensive methods of resolving your debts, but we are a trustworthy leader in the industry.

If you or someone you know is having difficulty paying their bills, or wants to learn how to get out of debt, speak to an experienced consultant at 1-800-495-4069.

Discover how much money and time Beyond Finance can save you.