The Benefits of Debt Settlement

by GuestPoster on January 9, 2011

There are a lot of alternatives aside from getting yourself bankrupt in cases of heavy debt. You have the capacity of saving as much as 50% of your total debt just by choosing debt settlement. This benefit is brought about by paying off all your total debt all at once with one lump sum payment. In order to qualify for this option, your total accumulated debt should amount as much as $10,000 of even higher. There are many ways to do this and you can do it yourself too. However, you can also employ the help of a settlement agent.

There are a lot of debt settlement companies out there that are fraudulent and a lot of people who are in dire need of assistance have been subjected to an even greater trouble because of it. In order to ensure that you will not fall victim to these companies, take your time to check their background and verify their credibility first before getting into an agreement with them. I’m sure that you want to get rid of your student loan debt as soon as you can however it does not mean that you accept and believe everything and everyone that is being offered to you. Go the extra mile in looking for a reputable company.

The primary factor that you would need to check into in order to see if they are reliable is to verify if the company is compliant with FTC’s amendments to the Telemarketing Sales Rule, 16 CFR Part 310. You can be sure that settling credit card debt will be a breeze. You will have peace of mind once you see that you have more security in settling your debt.

There are loads of advantages that the amendment offers. The first thing is one that prohibits settlement companies from charging upfront fees from their customers. The payment that you give should only for services and debts that have been settles and should only be given once the whole process have been completed. Moreover, in the event that you would need to make a deposit towards a trust account, you have to ask the company to declare the money as yours and you have the right to control it. It should also be possible for you to take money out of it anytime without having to pay an additional fee.

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