Debt settlement is considered to be the most aggressive but legitimate debt relief tactic. Everyone knows that the results of settlement negotiations are not consistent. To make the debt settlements more effective one needs to master the art of negotiation. It also demands expertise in handling financial matters.
While negotiating with your creditors across the table you need to take quick decisions and make reasonable offers. Negotiation is an art and one of those skills which cannot be acquired overnight. It requires diligence and experience of handling number of cases. When it comes to debt negotiation you also need to bring the settlement in a manner that debt settlement does not end up causing more stress to you.
A legitimate company would also use all its energy for settlement as their success rate also depends on the success of your case. To find a genuine debt relief program is quite challenging. There are number of fraudulent companies who are interested in making money in whatever way they can. There are few things you can find out about the company if you want to know how to compare and locate a genuine company.
Here are some of the characteristics of the Genuine Debt Relief Programs
1) They offer free debt counseling, trainings and materials to help you with debt issue.
2) They do not ask you for upfront payment before debt settlement and are willing to spend enough time with you to understand your debt case.
3) They would be member of reputed debt relief networks.
4) They would be associated and enrolled with organizations like Better Business Bureau.
5) They would be accredited by The Association of Settlement Companies (TASC).
6) The debt settlement arbitrators would be IAPDA certified having good knowledge of laws governing the debt settlement industry.
7) They would have a proven track record and good success rate in handling debt negotiations.
8) They would qualify the standards set up by the debt settlement industry.
9) They will have a clean record in consumer protection firms and might also belong to the local accredited Chamber of Commerce which in turn in member of chamber of commerce of United States.
10) You can track genuine debt settlement companies and programs from the reputed online debt relief forums, reference from your friends, reputed online debt relief networks and your financial institution.
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