Not All Debt Settlement Companies Are The Same

Any matter in relation to your personal finances needs to be carefully handled, since a blunder in this area can be very costly. Ninety percent of successful debt reduction in the course of debt settlement lies in the choice of the right firm to do your negotiation.

Many companies of debt settlement charge clients large up-front fees that are typically on the basis of a percentage of the total debt owed. If you come across a debt settlement firm that insists on a 15% payment up front, they must be denied. The harsh truth is that because those companies get their money up front, they have little to no incentive to work hard for you. In fact, many of the debt settlement scams you may have read about had to do with companies who took their clients’ money up front and then disappeared, leaving those clients in worse straits than they were before. New regulations designed to put an end to such rip-offs have made it illegitimate for non-law firm companies of debt settlement to charge this kind of up-front fees, but it is now commonplace for unscrupulous companies to get around those regulations by putting a single attorney on staff, most likely one that seldom if ever gets involved with client cases.

A reputable and reliable company of debt settlement bases its fees on the amount of money you accumulate with debt settlement. This assures you that the firm has a strong incentive to get the best probable settlement with your creditors.

Another chief thing to look at when choosing a debt settlement company is their track record. Demand makes a reference. A reputed company ought to be able to give you the names and phone numbers of satisfied clients who can tell you firsthand what their know how was like.

This may seem clear, but you have to assure you have confidence in the qualifications of the people who will be handling your negotiations. Your best bet is to hire a debt settlement law firm, because having an experienced bankruptcy and debt settlement lawyer on your side will give you a big negotiating benefit. A law firm will be able to handle even the toughest debt collectors and to represent you in the event any of your creditors file a lawsuit against you. Last but not the least, because the practice of law follows strict ethical standards, your lawyer is accountable for the way your case is handled.


With Debt Academy, you are in the receipt of the experience and knowledge of a large firm in combination with the attention and care of a personal advisor. You won’t ever be passed off to an assistant and will always get a high level of service and personalized attention from an expert debt settlement lawyer and credit card debt negotiator.