Legitimate Debt Relief Programs Best Settlement Company Reviews

www.unitedfinancialrelief.com

Sounds too good to be true, right? A program that can reduce your debt, give you a lower monthly payment, and resolve your debt in a few short years? Sign me up for three of those! It does, however, beg the obvious question, is Debt Settlement a Scam? The answer; no, Debt Settlement, like Bankruptcy or Credit Counseling, is one of many legitimate debt relief programs used to help people in a financial hardship. In fact, for people who are struggling with credit card payments, it can be the most necessary and helpful debt relief program available. So why does something so beneficial have some asking, is Debt Settlement a Scam? Debt Settlement is not the best option for everyone, and it?s the responsibility of the Debt Settlement company that reviews your situation to make sure you are right for the program. Then, it is necessary for them to review both the positive and negative attributes of a Debt Settlement program. It is also crucial they don?t exaggerate what results you will see when in the program.

Settlement Percentages:

The national average Debt Settlement companies are able to achieve in a settlement hovers around 50%. If a company quotes you a settlement percentage lower than this figure, they?re likely attempting to fabricate numbers in an effort to enroll you in their program. In addition, settlement percentages are partly based on your personal creditor mix (the specific creditors you owe). Therefore, a critical step in the process is to evaluate your creditors and how much is owed. For example, United Financial Relief categorizes each creditor and gives legitimate estimates for settlements based on historical data. Unfortunately, most companies skip this imperative step.

Don?t allow yourself to be sold on low percentage estimates. If a company quotes you a 30% settlement but can only get a 60% settlement, the monthly payment you were initially on won?t be adequate and you could be in severe trouble with your creditors because you?re unable to pay. It?s easy to tell you what you want to hear, but it?s best to choose a company that can give you an accurate quote with a reasonable payment.

Fees:?

Every Debt Settlement company charges a fee for their services, but following reforms made by the Federal Trade Commission (FTC) in 2010, absolutely no fees can be charged until a debt has been settled. If a company charges you an upfront fee of any kind, they are not FTC compliant and they are enforcing unethical behaviors.

Once a settlement has been reached, a Debt Settlement company may collect their fee. Typically, one can expect a flat fee between 18% and 25%. While there are companies that charge less than this average, be wary. Debt Settlement is not a cheap process and it?s far more prudent to pay a little more to have your finances handled properly.

Program Length:

Typical Debt Settlement program lengths vary between 24 and 48 months. Be wary of companies that are willing to offer you a program longer than that.

Industry Accreditation:

Unless a company is blatantly deceptive, industry accreditations are simple to acquire if a fee is paid. There are few measures put forth in order to ensure a company is offering legitimate debt relief programs. For instance, the Better Business Bureau (BBB) is a business and isn?t government sanctioned. Each BBB chapter has a board of directors who make decisions for each region. For example, what qualifies a company as reputable in Maryland may not be recognized in Dallas. What qualifies as an ?A? rating in one part of the country, may only be a ?C? elsewhere. In fact, the BBB came under severe scrutiny a few years ago when all it took to get an ?A? rating was a simple membership fee. For more information on this, take a look at 20/20?s investigation into the unlawful practices of the Better Business Bureau http://www.youtube.com/watch?v=Yo8kfV9kONw.

Along with exposing the BBB?s practice of charging for grades, this investigation details how a white supremacy group and a terrorist group were able to purchase an accreditation with an ?A+? rating. As this shows, while the BBB can be a valuable source for consumers, it?s more beneficial to base an opinion on reviews, how many complaints a company has received, and how many of those remain unresolved.

Debt Settlement is one of many legitimate debt relief programs necessary for those struggling with a financial hardship. But it?s important to find a company that is straightforward about whether you should be in a settlement program in the first place. If you?re looking for a good place to start, call United Financial Relief today at 1-888-534-5010 or visit them at www.unitedfinancialrelief.com .

Source: http://www.nationalnewstoday.com/money-and-investing/is-debt-settlement-a-scam-what-to-look-for-in-legitimate-debt-relief-programs-best-company-reviews.php

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