Which Debt Settlement Company Is Best?

Just found this forum a week or so ago. You guys are great. I've learned a good bit already.

My wife and I are wanting to do debt settlement. Combined we have near 50K in credit card debt. A lot of it was from our previous marriages which we got stuck with.

We've been talking to Preferred Financial Solutions which is also known as Credit Card Relieve Now. I heard about them on the radio. They sent us the forms to read and sign to send back to see if we can get approved. They said we seem to be prime candidates for debt settlement. Anyone dealt with them and could comment on there services?

I've saw many debt settlement companies on the net. One might sound good for a while, then you end up reading some bad posts or comments about them somewhere along the line.

We do need to do something soon as were aproaching our 50's and have carried our debt way too long. Any advice or maybe just point us toward a good debt settlement company would be great. Thanks A Bunch!!

I didn't hear any complaints about them. However, you should do an extensive research before you register with a debt settlement company. A good debt settlement company should have at least one of the following accreditation - BBB, TASC, IAPDA or USOBA. You can also check the following link debt settlement companies to find a list of good debt settlement companies.

I am not allowed to post links but check out my blog (in my signature) to give you an idea of what to look for in a Debt Settlement company.

My top two concerns, are BBB report and their fee structure. Do not pay any company up front fees. There are many out there that only charge you on the back end (a percentage of what they save you). If you send me a note I can give you the names of a few as I am not allowed to post any links hee.

Thanks for the replies. There's so many debt settlement compaines out there, it's hard to know who to go with. Any more helpful comments is for sure welcomed.

a friend of mine had used a company in NYC called atlas settlement, he was about 80g in debt they got him out of debt in a little over 2 years, they charge 15 % of the debt but spread the fees over the time you are in the program. im thinking about using them.
heres the website atlassettlementinc . com

As I have mentioned in my earlier post, a good settlement company should be listed either with BBB or TASC or IAPDA. Also you should beware of a settlement firm which charges fees upfront.

Another important thing is to shop around to compare charges between few settlement firms before deciding on one.

You can also check with the list of companies available here.

my advice would be to find a company that charges a % of what was saved. The reason why is it insures that they will be working hard to get you the best savings because that gives them better pay. they harder they work the better thier pay is. But my first and most important thing is to know all about settlement and how it works before signing up so that you will know if they are feeding you a line of bull. Ask alot of tough questions to see if they lie to you about it because alot of settlement companies will and if they are gonna lie to you about the facts run. How could you trust them with your financials?

all the other above advice is also great advice. Research is key and use all the tools that are available to you to be sure your not signing in with a horrid company thats gonna end up getting your butt in court. The internet is great use it to its full advantage.
good luck to you!