Debt Settlement Previous Deals
Debt Settlement Licensed Companies
Debt Settlement Licenses, Certifications, and Accreditations
Like Credit Counseling Agencies, Debt Settlement Companies should provide a wide-range of services, educational opportunities, and budgeting and repayment plans. These debt settlement companies should be able to offer different payment arrangements as well as explain how potential options relate to your situation.
Unlike Credit Counseling Agencies – Debt Settlement companies often offer an attractive option to attempt to set up a discounted settlement at less than 50% of what you presently owe – this service normally has a maximum time-line of 6-months. Most Debt Settlement companies receive a large portion of their revenues from commissions you pay based on the money they save you and a minimal up-front fee.
Another benefit is The ability to be debt free and begin building positive credit in 3 to 6 months.
Unfortunately, unlike debt consolidation you will need to be delinquent to qualify for negotiations that result in significant discounts. It is not impossible to negotiate a current debt but it is highly unlikely that you will experience the same results on a current debt as you would a delinquent debt.
Also there is a seemingly endless supply of poor service providers in this industry. This will likely improve as the industry ages and develops more of the structure found in banking industry models. But with a shortage of Banking professionals making the transition to providing consumer services You have your work cut out for you in finding a few quality debt settlement companies.