Credit Card Debt Settlement, is it Safe?

When is credit card debt settlement safe? When is credit card debt settlement not a safe option? A new page on credit card debt settlement services provides consumers with basics that they must know according to Golden Financial Services (GFS).
By: Sammy Katherine
 
Aug. 31, 2012 - PRLog -- Credit card debt settlement can be the fastest way to pay off unsecured debt.  This article outlines a few important points for consumers to see and know to help them only get involved with a credit card debt settlement company the safe way, and also warns consumers of the credit card debt settlement companies to stay away from.

A credit card debt settlement program can take consumers from being overwhelmed with debt, to becoming debt free.   When done right consumers can pay back a significant amount less than the balance owed on their unsecured debt.   Credit card debt settlement can be the fastest and most effective way to get out of debt, but there are important factors that must go along with the service for it to work.

For the service to be safe:

1.   Company should have a Good Better Business Bureau Rating (BBB)
2.   Company must provide the consumer with an attorney to provide them with lawsuit defense just in case a lawsuit occurs.
3.   Company must provide the consumer with an FDCPA Enforcement Program and lots of education.
4.   Company should have aggressive negotiators that use the bulk settlement approach to get the best settlements.  
5.   The bigger and longer a company has been in business will usually mean they have more clients. The more clients a company has will equal more leverage when negotiating, equaling better settlements.  

On the new website page that GFS launched consumers can view real settlement letters and learn more about credit card debt settlement.  GFS also provides a few statistics on the page allowing consumers to get a better idea on how many people in America they have actually helped through credit card debt settlement in CA, TX, Fl, NY, GA and Al for the month of August 2012.  (Top 6 States)  

Here is the new page:  http://nomorecreditcards.com/credit-card-debt-settlement/

According to GFS you cannot pay for your A with the BBB.   Paul Paquin with Golden Financial Services says “a common misconception consumers have is that they believe a company can pay for their A, but that is false.  The BBB regulates companies and it’s not easy to have an A rating.  
The BBB checks on a regular basis ensuring a company:
   Has compliant websites and marketing.
   Has compliant client agreements and is compliant with the FTC.
   Has graduated and happy clients.  The BBB will even call graduated or happy clients that a company provides them as proof.
   The BBB requires that if there is a complaint, it gets resolved fast.
   In a nutshell, to have an A Rating with the BBB, the BBB also looks at how long a company has been in business, how many complaints a company has, if they were all resolved, how many happy and graduated clients a company has and much more.”  http://nomorecreditcards.com/about-us/debt-settlement-bbb/

Golden Financial Services says to stay away from a company:
   That has unresolved customer complaints with the BBB or a poor rating.
   That has less than a 5 year track record.
   That has very little client testimonials.
   That has high pressuring sales reps.
   That does not provide consumers with a state attorney.

Learn more about credit card debt settlement services and how to reduce high interest credit card debt today by visiting Golden Financial Services at: http://nomorecreditcards.com/reduce-debt-high-credit-cards/
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Tags:Credit Card Debt Settlement, Credit Card Debt Settlement Services, Credit Card Debt
Industry:Financial services
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Page Updated Last on: Oct 28, 2012
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