Need advice with debt

debt settlement is an alternative if you are going through a true hardship. What you want to do when choosing a settlement group to go through is do your due research and make sure the company you are going with is credible. USOBA, IAPDA and the BBB are good resources to use when looking for settlement companies. DO NOT USE TASC as a reference guide for debt settlement. TASC is actually an organization designed by debt settlement companies to lobby to Congress to allow there services(being their companies) in states that don't allow them to practice in their state. TASC is headed by debt settlement companies that really don't even have a good rating with the BBB.

Do a search for Hess Kennedy on this forum. You'll find attorney's aren't necessarily the "way to go".

Our guest above who says don't pick a company that is a part of TASC is not telling the whole truth. Look up what TASC really is and what they do. He has not only left out important details of what TASC does (for example protecting the interest of consumers) but has out right lied about other things.
The best bet is don't take my word or his word just look it up and make your own decision. There are many companies that don't want to have anyone that oversees what they can and can not do...They don't want to be regulated by TASC guidelines and that way they can do whatever they want. I am not saying use TASC as your only guideline but next to the BBB nothing comes close to protecting the consumer.
With the BBB a company could be open for less than a year which many companies have just started up (because of the real estate crash) and therefore the BBB won't show that they have a lot of complaints. Pick a company that has been open for more than 6 years that doesn't have any complaints and that is apart of TASC, USOBA and IAPDA certified and then you will have a much better chance of not being ripped off.

I am going to go out on a limb and say that whoever posted the comment not to use TASC works for a debt settlement company who does not belong to TASC. They are correct on some points. You should absolutely research any company on the BBB. USOBA and IAPDA are less credible because they do not impose any sort of quality control on their members. TASC was created by the debt settlement industry to work with state legislation. TASC works to keep debt settlement open as an option in every state for people who are struggling with debt. But, in order to be a member of TASC any debt settlement must also disclose the potential risks and negative effects of debt settlement to their clients. You can view these disclosures on TASC's website. If a company does not belong to TASC, there is no oversight to ensure that this information is passed on to the consumer. One can argue that not every TASC certified settlement company explains all the pros and cons verbally with their clients (which is the main reason why some TASC certified companies have complaints on their BBB reports) but they do have to disclose the risks on their contract. TASC also recently began a secret shopper program to make sure that all certified companies verbally disclose everything to their potential clients. To sum it up, if you try to completely discount TASC, you are simply being foolish (or you're desperately trying to sell someone into your non-TASC certified program). If you are struggling with debt and you????????re trying to avoid bankruptcy with a debt settlement program make sure the company you choose has a good BBB rating and has credentials that actually mean something. Do your research!!

So what do you do when the BBB rates a company a F or unsatisfactory and has numerous complaints listed along with Government Actions while the TASC has nothing on the same companies?

Don't choose a company that has an F rating with the BBB. Find one that has a satisfactory record and is also a member of TASC. Call several companies and then make a decision. With our recent economy there has been a boom of new debt settlement companies that have sprung up within just the past two years. Don't shop for a company based solely on their fees. Look for a company that clearly and honestly explains the pros and cons involved with debt settlement. They should also discuss all the other possible options with you to make sure that debt settlement is the appropriate solution.

@ Tom321: Numberous Government Actions is all you would really need to see. As far as the BBB goes, bear in mind that the BBB is not a government agency, each one is owned independently, and they can hand out ratings as they see fit. I've seen a company have less than 10 complaints, all resolved and in business for over 4 years get a D-, versus a company with over 400 complaints that has a B+. The difference? One was BBB Accredited, which only means that the company paid it's membership fees. I am not trash-talking the BBB, but ever since a BBB Accredited member tried to scam me (non-debt related) I've been a little skeptical about what their Accreditation actually means.

When this was first explained to me, I couldn't believe it myself, so I did some googling:
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=GGLG,GGLG:2005-41,GGLG:en&q=bbb+scam

Check out hits number 2 and 3. Yes, the BBB provides a wonderful resource for worried consumers when trying to decide who to trust with their money, but keep in mind that in no way are they impartial. I'm new here so I really hope someone can back me up on this, because I've experienced it first hand. :)

As far as "...while TASC has nothing on the same companies", from what I understand TASC shops their Accredited members and if they fail to meet their standards, they will be stripped of their Accreditation, and possibly kicked out altogether. I'm not a representative of TASC, so if you want to get a more official response I'm pretty sure they actually have a 1-800 number you can call.