For people who are looking for debt settlement companies to handle their debt problems, here are 10 questions they MUST ask the service providers before they sign up the settlement plan. All these questions are important because they help to protect the debtors from being trapped by scams or unethical companies.
When you approach a service provider for assistance, you are reminded to find out the answers for the following:
1) How long has this company been established? If the company has been established for less than 2 years, you are advised not to select the particular company.
2) Is this company a member of Better Business Bureau? You need to find out whether there are complaints reported by other clients.
3) Are all the financial consultants in the company certified professionals? If the representatives can't prove their academic qualifications, you had better stay away from the company.
4) Can the service provider prove their clients' testimonials? What is the success rate for all the cases the company handles?
5) What are the services provided by the company? Is there any value added services offered? Does the company offer free consultation at the initial stage?
6) How does the plan work? The settlement company must inform you how the whole plan is executed and how your credit is protected.
7) How much is the service fee? Is there any upfront required before the service is provided?
8) How long does it take for the settlement process to be completed? Is there any estimated time given?
9) Does the service provider allow you to read through the sample agreement before signing up for the plan?
10) Is there any guarantee provided for the success of settlement?
You should only sign up the settlement plan if you are satisfied with all the answers given by the settlement company.
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