Posted on August 13, 2009 at 1:21 am To get the best possible results and to avoid being scammed...I wonder if you could give me a general idea as to what to look for in a debt settlement company or how to find a good one, thank you!

Posted on August 13, 2009 at 1:32 am How to find a good debt settlement company?By checking the company's accreditation and/or membership with the following:The BBB (Better Business Bureau) www.bbb.orgTASC (Association of Settlement Companies) http://www.tascsite.org

Posted on August 13, 2009 at 1:36 am Just to add to what the previous post said about how to find a good debt settlement company--from the BBB site and TASC site:-make a list or compile a list of debt settlement companies that you'd like to work with-prepare a list of questions to ask those companies-call them one by one and ask your questions and compare their answers, see which one fits your needs and which offer suits your ability to pay

Posted on August 13, 2009 at 1:41 am An accreditation or membership with the said groups can guarantee you that the debt settlement company is legitimate and operates by those groups by-laws..but it doesn't mean that that is the right company for you. You would only determine which debt settlement company is good for you once you've spoken with a debt consultant and have had your financial situation assessed. Fill out a form here at destroydebt.com and get that free consultation.

Posted on August 13, 2009 at 1:46 am If the debt settlement company is also affiliated with the Council of Accreditation (COA) and the International Association of Professional Debt Arbitrators, aside from the BBB and TASC-- then that's how you'd know that it's a good find. However, I agree with x and y, shop around and interview your prospective settlement companies before picking one.The best of luck!

Posted on August 13, 2009 at 1:59 am Thanks everybody! But what sort of questions should I ask the settlement companies?

Posted on August 13, 2009 at 2:11 am -Does your company offer any service guarantee? If so, what is this guarantee? -Would you still collect a fee from me if your company can not get a settlement on my debt? -How would this debt settlement affect my credit?

Posted on August 13, 2009 at 2:16 am A good debt settlement company would have an answer like this or something like this, when asked, "how do I pay for this and how are you going to work out an agreement with my creditors? How does settlement work?"After assessing the consumer's financial situation we would then determine the monthly payment that the consumer can afford to pay. That monthly payment is going to be deposited into an escrow account or the consumer's personal savings account, depending on what was agreed upon. Once the consumer has saved up enough money to cover the settlement amount and our service fee, we then contact one of the creditors to negotiate.After which we would get the consumer's go signal for the bank to release the money necessary to cover the settlement amount. Once settlement with a creditor is done, the whole process is repeated until all of the consumer's accounts are settled. *Take note of the fact that the settlement company does not really directly handle the consumer's money..it doesn't make any monthly payments to the creditors directly and that no money from the consumer's bank account is released without the consumer's approval.

Posted on August 13, 2009 at 2:32 am Can debt settlement stop the creditor/collection calls?

Posted on August 13, 2009 at 2:35 am To answer The Question, maybe not entirely or not absolutely. It depends on the creditors -but a good debt settlement company, acting on behalf of the consumer, would have the necessary ways to at least reduce the calls or maybe stop them all together. It is part of their service.