How do you choose the right debt settlement company?

These are good points but there are a few more to consider. My blog has an indepth analysis of how to choose a debt settlement company.

More things to ask a debt settlement company:

1. What are their fees? Do they charge monthly maintenance fees and set up fees, along with a percentage fee? If they are charging a lower percentage rate and other fees, it often adds up to a much higher overall percentage rate then it initially appears. So, make sure you add it all up to determine exactly what you will be paying. Charging a flat percentage fee with no additional fees is more straightforward. You will know exactly what you will be paying.

2. Does the person you are working with at the debt settlement company have extensive experience? Besides having licensed attorneys who have many years of schooling and consumer law experience, we have many years of banking and mortgage experience. Knowledge and experience are essential in your knowing that your case will be handled properly.

3. Do they insist that atleast one of your debts be settled within the first 12 months? We do this because we want to make sure you complete the program successfully. We maintain a tight timeline to ensure all your debts get settled.

4. Do they keep in constant contact with you and your creditors? This is very important because keeping in constant contact with you and your creditors ensures a more successfull outcome.

5. Do you have web access to view the status of your file? You should not be wondering what is happening with your case. You should have a secure on line account that allows you to check the staus of your accounts at anytime. This is in addition to the phone communication that should always be maintained.

See my previous post for more information.

How can an attorney be more effective than a non-attorney with a debt settlement?

Why is an attorney more effective for debt settlement than a non-attorney?

When the negotiations start, your creditor will know that you have a bankruptcy attorney working for you. Therefore, the threat of you filing a BK is greater. They will be more likely to deal with a lawyer then just a regular third party.

This has nothing to do with their negotiation skills, but a lawyer is bound by law and a code of ethics to work on your behalf. A DS company is not.

Once again, I agree with el suavo. Having an attorney supervise your case will give you a much stronger position. The creditors are more likely to deal with an attorney resulting in your receivng more favorable results. The attorneys are bound by a code of ethics and understand the laws. This is far better then a non-attorney who is not bound by a code of ethics and may or may not understand the laws.

Attorney Supervised Debt Settlement