Asking licensing details of a settlement company

Date: Fri, 03/05/2010 - 00:06

Submitted by anonymous
on Fri, 03/05/2010 - 00:06

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Total Replies: 1

I am trying to hire a settlement firm to get out of debt but as you all know that there are many sham companies out there too. I just want to make sure that I hire a legitimate one. If I ask them to show their license plaque to me before I sign up with them, do they have to comply with it? Is there any law that requires debt settlement companies to reveal their licensing details to potential customers?

Hi Guest, It' s very true that there are certain debt settleme

Hi Guest,
It' s very true that there are certain debt settlement companies, which doesn' t adhere to the rules and regulations and henceforth stand as illegitimate ones. To find an apt debt settlement company is a bit hard but not that tough.

As far as my knowledge is concerned, there is no such specific law that will compel a debt settlement company to reveal licensing information to their dormant customers.

Firstly, you can check out the Better Business Bureau (BBB). Then check out the tenure of the company and it' s better to go for a company that is in the business for quite a number of years.

The better way is to search a for company, that is accredited by The Association of Settlement Companies (TASC). Moreover, you need to ensure that the professionals working in the company are certified by International Association of Professional Debt Arbitrators (IAPDA).

Besides, if you think of going with a law firm then check out the state bar of the attorneys.

lrhall41

Submitted by Chris Samuels on Fri, 03/05/2010 - 02:47

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