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Many readers have questions about debt settlement or debt negotiation. This page has a running commentary on debt settlement tips.

Use the Better Business Bureau

Always check with the BBB and with your State Attorneys Office of Consumer protection about the standings of the debt settlement company you are about to deal with. You will know if the company has misled individuals in the past and whether or not their services have impacted the consumer credit report.

Settlement and Chapter 13

Debt settlement is different from Chapter 13 bankruptcy. Debt settlement records are not public whereas Chapter 13 records are public. Additionally, with Debt Settlement, there are no records in the court about settling your debts.

A little haggling can go a long way

Be ready to haggle with your creditors over the phone. Offer to pay less money than your goal. Some accounts have been known to settle as much as 50% lower than the pay off amount. If done right, this is an easy process to settle your debts. A honest and fair talk on not being able to pay and seek advise from some friends who have undergone debt settlement will work in your favour.

The above three tips can go a long way in helping you get the most out of your debt settlement company. Always proceed with caution and as far as possible, request referrals from friends, family or co-workers. Always proceed with caution since there are many known sharks in the debt consolidation industry who might run over night with your money. Always aim to work with the best in the debt settlement industry. This will give you the peace of mind you have been looking for. Also interview the company who will be providing you with debt settlement services and get a feel for what they offer. Visit our website to learn more about the debt consolidation, credit counseling and debt management services we offer.