Posted on November 11, 2009 at 2:42 am What is your opinion of debt settlement companies that use direct mail to reach potential clients?Should those be trusted?

Posted on November 11, 2009 at 2:44 am Another question to ask is -What is debt settlement direct mail?How does it work?Is it even legal?

Posted on November 11, 2009 at 2:54 am What is debt settlement direct mail?I think they are internet leads that some debt settlement companies pursue to get the consumer to at least contact them and inquire about their services.How does it work?I am not too sure about this, perhaps somebody should correct me -There are two kinds of lists (target audience) - 1) what they call the modeled data - higher response rate (quantity) but not quality and 2) credit data - from the credit bureaus - which can generate quality leads.Basically, debt settlement companies would send these people (on the list) their services using creative and calls to action presentation - hoping to get a response.

Posted on November 11, 2009 at 2:57 am What is debt settlement direct mail? - Is it even legal?Good question and actually...I don't know if it's legal or not. I suppose the consumer receiving that kind of a mail would wonder how in the world his/her information got passed on to that company. Information such as name, address, and somehow - financial situation.

Posted on November 11, 2009 at 3:00 am What is debt settlement direct mail? - Is it even legal?You know, I've always thought that it should be the consumer who is to contact the debt settlement company first and not the other way around - for how could anybody possibly know that one is in need of debt relief, if not told?Having said that, the business world is underhanded, I don't suppose it's illegal to obtain those information if they were given freely (or ignorantly) by the consumer when filling out one of those innocent forms somewhere...

Posted on November 11, 2009 at 3:02 am So should the consumer respond to a debt settlement direct mail?

Posted on November 11, 2009 at 3:04 am So should the consumer respond to a debt settlement direct mail?I love privacy and I'm suspicious of things like that so, my vote is, no. If I need help, I'd buy a book about debt or go to a credit counseling agency and learn how to negotiate with the creditors.That or enroll in debt relief programs. I will - go to them, they shouldn't come to me.

Posted on November 11, 2009 at 3:06 am So should the consumer respond to a debt settlement direct mail?I say why not - go respond but at least know what questions to ask or - check their company profile first before doing anything.

Posted on November 11, 2009 at 3:11 am Speaking of finding out what a reliable debt relief company should be -For Debt Settlement Companies:-The settlement company's program must have a fast completion time. 12-36 months.-The program must be able to protect and improve the consumer's credit standing.-Must be a member of the Better Business Bureau, BBB, for at least 5 years.-Must also have a good standing with the Chamber of Commerce-A Member of TASC - The Association Of Settlement Companies and the IAPDA or the International Association of Professional Debt ArbitratorsFor Credit Counseling Agencies (according to the BBB):-Before you select a credit counseling agency ask for information on the following:-Are the agency services confidential?-Will they devise a plan tailored to fit your needs?-Are the counselors certified?-Are budget and credit education opportunities offered?-Will your funds be protected? How?-Is the agency accredited? -Aside from BBB membership (www.bbb.org) the consumer should also check its affiliation with the National Foundation for Credit Counseling  http://www.nfcc.org.