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Best Debt Relief Companies: Identifying Them

By: Michael Millington

When looking for the best debt relief companies to bring your financial issues to, what should you focus on? Many debt relief companies make the same claims, but deliver varying levels of service. If you have debt that requires professional help, know how to choose who helps you. The debt relief company you choose could be the difference between eliminating debt and incurring more financial issues. Here are a few things to look out for when looking for the best debt relief companies.

Screening the Best Debt Relief Companies

When looking into professional debt relief, the best debt relief companies have certain guidelines for conducting business. Many debt relief companies deal with debt settlement or something similar to settlement programs. Reputable debt settlement companies have to inform you of certain things before you employ them. The best debt relief companies let you know the benefits and detriments of their service.

What Reputable Debt Relief Companies Do

The best debt relief companies will not ask for upfront payment if they offer debt settlement. The AFCC (American Fair Credit Council) makes sure that these debt settlement providers follow this rule. Before these rules were implemented, questionable debt settlement companies would charge for their services beforehand. This would require consumers to pay before their debts are settled. This could cause problems if a settlement never happens. Debt settlement offers do not need to be accepted by credit providers or other lenders. If settlement isn’t accepted and you’ve made payment, you’re paying for nothing.

Using the Better Business Bureau

An easy way to find out more about any debt relief company is to research them. The Better Business Bureau has extensive information about many companies in existence. From here you can learn about the business’ practices, legal proceedings (if they exist) and customer reviews. Many customer issues are listed here when reported to the BBB, after which they can be resolved or left alone. This is a great resource if you’re looking for the best debt relief companies.