Debt Relief Companies » Reputable Debt Settlement Company

If you sign up with a “so-called law firm” that handles these debt negotiation programs, how do you know that your credit card co. is even for sure going to settle with them???

Scott — Sun, 22 Mar 2009 17:38:50 +0000

There are no guarantees with any negotiation process and that’s the case as well with debt settlement. A reputable settlement company or law firm will closely evaluate your situation before they take you on as a client to be sure that your creditors are ones they’ve had positive outcomes with in prior negotiations. A settlement company that doesn’t closely evaluate your creditor situation before accepting you is one to be cautious of as they may over-promise and under-deliver leaving you with their bill and no settlements.

That’s why it’s so important to deal with a company that is very upfront and honest with you from the initial conversation. You want to hear the positives AND the negatives from the representative you are speaking with. If they are hiding the negatives, be careful.

Remember, like anything, if it sounds too good to be true, it probably is.

I am, due to the misconduct of my mortgage co. I am 6 months behind. I need a reputable debt settlement company, ASAP

Scott — Tue, 26 Jun 2007 15:48:46 +0000

As everyone has seen in the news lately, mortgage companies have been too aggressive in the past few years and in many cases loaning people more money than they should which is now causing huge problems for many homeowners.

A reputable debt settlement company cannot assist you with your mortgage related debt because they can only work on unsecured debts (like credit cards, medical bills, etc). Your mortgage debt is secured by your home which means if you are unable to pay, they have the right to take your home if you default on the mortgage.

If you also have credit card bills or other unsecured debts that you need help with then the debt settlement company can help you with that. Maybe that will help you reduce some of your monthly bills so your mortgage is more manageable. You may complete the form on this page “Need My Help” and I can help refer you to a reputable debt settlement company today if this describes your situation.

And if your debt problem is only related to your mortgage then I suggest you talk to the bank who you make your mortgage payments to every month. Speak to them directly and hopefully they can present you with some payment options to avoid having to foreclose on your home. Rememeber, they prefer not to foreclose almost as much as you but will do so as a last resort.

I hope that helps.

What if some of my creditors refuse my debt settlement offers, through a company that I recieve a referal from you. Will they still help me settle others even if it falls below $10k mark because of the companies denying my offers?

Scott — Sun, 13 May 2007 01:05:15 +0000

Hello, thanks for the question. Your creditors may be more likely to accept your debt settlement offers if you work through a professional settlement company. My understanding is that it is extremely difficult for the average person to get the large creditors (mostly credit card companies) to accept a negotiated offer without professional help from a lawyer or a debt settlement company. In most cases the creditors will simply ignore your requests.

A reputable debt settlement company will know how each of your creditors typically responds to the negotiation process because they have so many clients who they are already negotiating for. Therefore, a good settlement company will tell you right up front how successful they think they can be with each of your creditors given their track record and relationship with that creditor. It is then your decision if you want to employ them to handle your settlements.

If the debt amount you have that can be negotiated falls below $10K, some settlement companies will still take your case up until about $7,000 but anything below that, probably not. The only way to find out how much debt you have that can be negotiated is to take advantage of their free consultations. They offer those so they can see if your debt qualifies for their program and it allows them to give you a good idea of what you can expect if you use their services.