So how do you choose which company to use?

Hopefully by now you have decided that debt negotiation is the best way to eliminate your debt problems. The only question now is what company do you choose out of the many organizations offering this service? There have been many new companies springing up in the last few years offering this type of service, and unfortunately, not all are created equal. So how do you go about finding a company that is going to provide good, personal service and abibe by honest business practices while eliminating your debt? Here are just a few things to look out for:

1) Do they have Certified Debt Negotiators and do they Ask Questions?
Does the company have certified debt negotiators handling your settlement? If not you may not get the results they claim. Another question to consider. Does the company you're talking to ask you relevant (and basic) information such as what banks you have debts with, how much you owe to each bank, what state you live in, any recent balance transfers or cash advances? This makes a big difference to a company's ability to help you. If they just give you an estimate without asking these questions, beware. Compare them to DLS's experience.

2) Are they Bonded?
There are some unscrupulous companies out there that could take your money and run; you want to be protected from this. A bonded company will protect you from a company’s unscrupulous employees. If you are considering an un-bonded company contact the BBB and the State Attorney’s General Office where this company is located to see if they have complaints.

• DLS protects you with a $100,000 Surety Bond.

3) How Long Is Their Program?
Ask, “Does it matter how long it takes me to get through the program?” and “Will there be potential problems if the program goes on for a long time?” You need to be aware that in almost all states, doing a program longer than 36 months can be very dangerous! Spreading the program over, 48 or even 60 months will create legal problems, increase the costs and increase the possibility of you filing for bankruptcy. Some companies pay no regard to this and push you to get started so they can collect their large start up and monthly fees. Although some ocmpanies seemingly chase low monthly fees, they compensate for this by stretching out the length of the program. So that over time, you pay the same amount or more that you would have in a shorter program.

• At DLS, we recommend that you do not go with a program over 36 months regardless of how appealing it is or how much easier it seems that it would make your life. Having an additional $100 in your pocket every month will cost you considerable more in costs and potential hassle over the long run.

4) Do They List an Address on Their Site and is the Debt Consultant and Negotiator with the Same Company?
Does the same company that negotiates the debt employ the debt consultant? There are many organizations that sign people up and then sell that client to a negotiation company. DLS does not buy or sell clients. We have one of the best negotiation teams in the country and DLS handles everything in-house. Also it is important that you check to see if the company has an office with a physical address (if a PO box or no address at all, be very wary!)

• Debt Liquidation Service's corporate headquarters is located in Deerfield Beach, Florida. It is from this central location that we are able to service our clients nationwide.

5) Do They Have a Service Guarantee?
There are many companies that do not guarantee their services which means the company has no incentive to negotiate your debt once they have collected their service fee.

• At Debt Liquidation Service, if we are unable to settle an enrolled account, We will refund back to you or adjust your service fee by an amount equal to the service fee charged on that particular account balance at initial enrollment. Note: You must have sufficient funds to settle the account in order to be eligible for the guarantee.

6) What Are the Up Front Fees?
All companies have a set up fee; this should be expected but you should definitely be aware of the amount of up front fees a company wants. If the initial fee is greater than 6% of the total debt, look elsewhere. Other companies might want all their fees upfront before they start negotiating the debt; definitely beware of this. If a company collects all their fees upfront, there is no incentive to get you the best deal on each settlement. They do however have every incentive to close out your account as soon as possible as they have already made their money.

• At DLS our certified debt negotiators (negotiators) are paid based upon settlement percentages, which means they are encouraged to make a better settlement for you. This lets you know the settlement team is working for you and not the creditor.

7) Who Looks After Your Savings?
Nearly all companies take your money every month and deposit it into their accounts until a settlement is made. The safer practice is to establish a savings account in your name where you have control over your money and control what settlements are accepted. If you do not have control over the account, the company may reach a settlement and could pay for the settlement without your approval. Many companies will force you to accept any settlement better than 50% and automatically send the payment out of your account. You have no control over what settlements you would like to accept or not.

8) Do They Charge Paperwork Fees?
Does the company you are considering want money just to talk to you or send out information? Some companies reportedly charge $100 or more just to mail out the contract! Any company that does this should definitely be avoided.

9) Do They Accept Credit Card Payments?
Does the company accept credit card payments for their fees? If they do this, it is both ethically and legally improper. Why would a creditor negotiate on a debt that has just been put on there by the company that's negotiating the debt?