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Is it safe to disclose financial information to a debt relief company before taking help?

Submitted by Jose_terrain on Thu, 08/16/2018 - 21:16

Is it safe to disclose one's financial matters withi a settlement or consolidation company? Is there any assurance that they won't leak the information to the creditors?

The Federal Trade Commission (FTC), has amended the Telemarketing Sales Rule (TSR) to add specific terms and conditions to prevent abusive, illegal practices associated with debt relief services. Debt relief companies who use telemarketing to contact potential clients or appoint some person to call people on their behalf have always been covered by the TSR. As per the rule, a client can disclose his /her financial matters with a debt relief company, but the company can't disclose this confidential information to any third party, it'll be the breach of contract.

Submitted by Barbara Delinsky on Thu, 08/16/2018 - 23:43

Barbara Delinsky

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This is why you need to choose an authentic debt relief company who provides settlement or consolidation service. The company shouldn't declare the client's confidential information to others.

Submitted by Sanders Patricia on Fri, 08/17/2018 - 05:05

Sanders Patricia

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Yes, I agree with sanderspatricia. Opting help from an authentic debt relief organization reduces the chance quite a bit.
So, look for a settlement or consolidation company that is into business for quite a few years and has BBB accreditation. Also, check out customer reviews to be sure that it has a satisfied clientele.
Also, another way to find a good company is to take references from your family and friends who has already taken help and is satisfied.

Submitted by Good Nelly on Fri, 08/24/2018 - 01:09

Good Nelly

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