With the current economic conditions and nationwide unemployment spiraling to 10%, it is no wonder that the most Americans are feeling the increasing burden of debt.  70% of Americans live pay check to paycheck. 60% of Americans don't pay off their credit cards every month. As soon as the roads gets rough or they have an unexpected emergency you may fall behind. If this has happened to you or some one you know this article will some you some trips for finding debt settlement companies or  services.

What we recommend

1)      Do some research on the companies you are most interested. If you are proactive and search them out you will almost always do better then if you go with the ones that are searching for you.  Find out what they charge, both in fees and rate structure. If they are consolidating the debt for you find out the APR (annual percentage rate) they charge.  Keep in mind that a lot of times these rates and fees are negotiable. If you find a company that you like better, but their rates are higher then a competitor, see if they will match the same rates being offered by their competitor.  

2)      Accreditation and customer reviews are important also. Debt settlement companies should be accredited by TASC. (The Association of Debt Settling Companies.) Please also keep in mind that a customer testimonial given on a website if generally far less valuable than a third party customer review.

3)      Do the debt settlement programs they offer come with any kind of a written guarantee. Some debt settlement company will give you a guarantee that is they can't help you settle your debt, they will give you your money back. This is great for peace of mind but read the fine print in case you need to get your money back later.

4)      I know you feel pressured but don't rush into anything. Stay away from people that are too pushy or make you feel uncomfortable. The best companies will typically be local and will interact with you face to face. Each settlement is a little different and your company should understand that.

Helpful tip 006: Avoid giving debt settlement services direct access to your bank account to withdraw their fee. This usually is a bad idea, so avoid companies that ask for it like a plague.