As a consumer, if you get in trouble with paying your debt and managing your finances one place you can turn for help is to a debt-relief company. Shopping for and comparing debt-relief companies is necessary as is the case with any major financial decision you make in your life. When you looking for a debt-relief company to help you, make sure you obtain the answers to your questions before agreeing to work with the company.
How long has the business existed?
In order to ensure that you're working with a long-standing and reputable business, find out how long the company has been in existence. Some financial experts say you should work with a company that has at least 10 years in business, but even a company that has been around for two or three years is not necessarily a fly-by-night company and is worth considering.
Who handles the debt relief work?
Some debt-relief companies are the face of the operation and outsource the actual work to a third party. Find out if the person you're speaking with at the debt-relief company is the person who will be handling your file or if someone else is actually performing the work.
Is the company a member of the Better Business Bureau?
Businesses that are members of the Better Business Bureau (BBB) are held to certain standards and regulations when it comes to meeting client standards and business management practices. Not only can you search member listings with the BBB, but you can also see if any of the company's clients have filed complaints about the company and whether or not the disputes were resolved.
Is the company licensed to do business in your state?
A debt-relief company has to be licensed in each state that it offers its services. Especially if you are calling a toll-free number to reach the debt-relief company, confirm that the company posses a license to work with clients that live in your state.
What is the company's history with resolving debts with creditors?
Provide a list of your creditors to the debt-relief company and find out what the company's experience is in working with these particular creditors. When a debt-relief company has an established relationship and a positive past working history in settling debts with specific creditors, it helps better your chances that a positive conclusion can be reached for your debt as well.
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