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how do i go about verifying a company to make sure it's legitimate? :o

I would first try looking them up with the BBB to see if they are members or at least have a good track record.

If they are a credit counseling company make sure they are a 501(c) 3 Non profit Company and ISO Certified. In order for a credit counseling company to receive benefits such as reduced interest rates, waiving late fees, etc from the creditors, the agency must have its 501(c) 3 Non profit business license. Typically if a company does not have this license, they are unable to receive the benefits for their clients.Recently, most major credit lenders began requiring that credit counseling agencies achieve ISO 9000:2000 certification and satisfy the requirements listed in their Code of Practice in order to receive the benefits they offer.

If they are a settlement company make sure they are either members of TASC or USOBA. USOBA and TASC????????s goals are to promote good practice in the debt settlement industry, protect the interests of consumer debtors, and lobby on behalf of debt settlement companies on the federal and state level.

Sub: #1 posted on Mon, 08/25/2008 - 16:19

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