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Debt Settlement  Company
Call Today: (877) 274-1260
If you successfully complete our program, it’s possible that you’ll enjoy these benefits:
Settle your debts for less than you owe
  (read here for full details about how much you can expect to save)
Resolve your unsecured debts in 18 to 60 months
  (read here for full details on how long our program lasts)
No Up Front Fees - Don't Pay Till You See Results!
 
 
 
Advice When Choosing a  Debt Settlement Company

Debt settlement involves negotiating with creditors to lower the amount that a consumer owes. When done properly, a client is able to meet the savings requirements, and creditors agree to cooperate, a debt settlement company may be able settle their debts for less than they, saving thousands in the process. For consumers with overwhelming credit cards, medical debt, personal loans, repossessions, or collections accounts, a debt settlement company may be able to provide tremendous financial and emotional relief, but on the same token, when done poorly, a consumer can end up in worse position than when they originally sought debt relief. The following are series of questions to consider when choosing a debt settlement company. Keep in mind, that even when a settlement company does in fact properly service a consumer, this does not guarantee a successful program. Results do vary.

Is the Debt Settlement Company being Inquisitive about your Recent Account Activity?

There are instances when creditors will refuse to negotiate an account, and some of these cases occur on accounts that have had large recent balance transfers, cash advances, large purchases, or a recent loan. In other words, if you withdrew a lot of cash from your credit card and then promptly enrolled in a debt settlement program, it is likely that the creditor will refuse to offer any settlements and will instead opt to pursue legal action to collect the full balance from you. The same is true with large recent balance transfers and large purchases. In many cases, credit card companies would rather settle an account than risk forcing someone into bankruptcy, but if they feel the consumer has been fraudulent in their business with them, there's a chance that they will spurn any settlement offers to make an example of the client. On the same token, even if the balance transfer or cash advance was over 6 months ago and you've made several payments since then, it will still increase the settlement that the creditor is willing to accept. It is extremely important for a debt settlement company to be thorough during the approval phase of a client's program because it can have effects down the road. 

Is the Debt Settlement Company being Upfront about the Potential Downsides

This should go without saying---any debt settlement company that does not mention the likely credit impact and collection calls and the possibility of legal action and taxes associated with their program should be avoided. Some debt settlement companies make a point to discuss the potential downsides of the program, but there are some that value the sale over having long-term satisfied clients. A reputable debt settlement company will make a point of disclosing the potential downsides.  Even with Franklin Debt Relief, although we make every effort to disclose the risks associated with debt negotiation, oversights do occur, and we encourage all consumers to rely on the contract for full details about the disadvantages and costs of using our service. 

Is the Debt Settlement Company Putting you in a Long Program 

The only way to avoid legal action on past due accounts is to settle accounts before they ever reach that stage. As a rule of thumb, clients should avoid debt settlement companies that are pushing them into programs longer than 36 months. Even then, one should always strive to pay off their debts as quickly as possible and clients in shorter programs have a higher likelihood of success. Not only can this reduce the chances of a lawsuit, but it will allow you to start rebuilding your credit from the negative impact of the program sooner rather than later.

Is the Debt Settlement Company Allowing you to keep a Large Account out of the Program?

This goes in line with the first question regarding instances when a creditor may refuse to negotiate. Creditors may willingly engage in negotiations with debt settlement companies when they feel the consumer has not been fraudulent in their dealing with them. Similarly, the creditors want to see that the client is not showing preferential treatment to another creditor. In other words, if a client is remaining current on an account with a large balance, the creditor may refuse to negotiate on the grounds, "If he or she can afford that big account, then they could afford to pay us back." It also shows a lack of a financial hardship, which is an important factor for debt settlement as well.

Has the Debt Settlement Company Asked if you Filed Bankruptcy Recently?

If you've filed bankruptcy in the past 7 years, then a creditor may be more likely to refuse to negotiate since you have no other alternative but to pay them back in full. This tends to happen mostly to consumers who have filed within the past 3 years, but a thorough debt settlement company will investigate everything in order to ensure that they are enrolling a consumer who has a decent chance of obtaining settlements, although the possibility of non-settlement will always exist even for the well-qualified candidates.

 
 
 
 
 

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