What I caution against in the Q&A’s are the companies who tell you that your credit score will automatically return to normal after the settlement process is over without it being part of the settlement process. Basically, the companies who try and sweep the credit score issue under the rug without addressing how they may be able to help you fix it (if at all).

A settlement is a legal agreement so if a company can negotiate more than just reduced payments for you, then that’s great. Just be sure you understand exactly what they will be negotiating, what that will do to your credit report immediately after the settlement process, and what happens if they are unsuccessful in getting the slow payment marks removed as part of the settlement. Thanks.

“What Credit Negotiation Company is Best for Me?”

Like anything, you need to find an honest debt negotiation company that you believe is the best for you. There is no one size fits all solution or service to your debt problem. Similarly there is no easy way to determine who you should use to negotiate your debt without doing your research and talking to the companies before deciding which is right for you.

So I suggest you stop searching for debt negotiator ratings (which I don’t think exist anyway).

Then what should you look for?

Most of all you want an established company that has in house negotiators, good customer service, is run by honest professionals, is not a high pressure sales operation, and one who tells you the whole story (good and bad) of the credit negotiation process.

There are many dozens of these companies around the country and new ones are popping up every day as more and more people have credit card debt problems. The key thing to understand is that these companies are easy to set up and often attract quick buck salespeople who may or may not do a good job of servicing your account after you become a client. In fact some of them don’t service their clients at all, instead they pass your account off to another company you may not be know about who actually does the credit negotiations (the important part).

Be careful! Ask a lot of questions before signing on the dotted line. Learn about all the options available to you, do your research, and then be selective about the company you work with.