5 super smart ways to save your self from Debt Settlement Scams in California

 

The recent economic meltdown has devoured the financial life of millions across the globe. Along with the recession, depression, slump, downturn, economic reset has put thousands of Californians knee deep into debts. If you are one of them, then you must be frantically looking for a solution to get out of debt. You might come across many debt settlement California companies promoting their services by claiming to cut your debt into half or declaring to free you from the clutches of debt. However, remember all of them are not genuine; some of them are nothing but scam artists who are looking for some ways to make quick bucks by promising to solve personal financial problems. These conmen often take advantage of your helpless situation by pretending to be compassionate professionals and make their way to profits. Being in outstanding debts often your thought process gets paralyzed and desperation overrides good judgment and common sense. As an invariable result you succumb to the situation and fall into these scam traps. Weigh and consider the points given below before hiring any debt settlement company.

 

  • There are plenty of legitimate debt settlement companies are out there who are very trustworthy and good at what they do. To hire such reliable debt settlement company do a thorough research first. Look into their service background and profile closely. Read the feedback and testimonials they have received from their previous clients.

  • Find out whether the company is accredited with BBB (Better Business Bureau) or not. To search for reviews and complaints on the company take online help and use personal referrals from trusted family members, friends or associates. If required meet the staff personally at their corporate business office and see whether you can trust them with your finances.

  • You may be more likely to be successful to settle your debts if you hire a professional lawyer or a group of lawyers who can offer you legal advice and can handle your paperwork and negotiations with greater proficiency. In addition, a debt settlement law firm is well versed with bankruptcy law and therefore can guide you to file bankruptcy if needed. Having a law degree does not assure legitimacy, but a California lawyer must be a member in good standing with the State Bar of California to practice law. It is always safe to hire lawyers as they always have the fear of losing the bar card in case they are found guilty of unethical behavior.

  • The fees of your debt settlement company can cost you a fortune. Shop around and compare charges offered by different companies. Don’t forget to provide the attorney with sufficient information regarding your case to avail a realistic cost estimate. Make sure your debt settlement lawyer’s fees must not put you into further debt.

  • Most lawyers or debt settlement agencies settle the debt with 30 to 40 % reduction in the total balance amount, if your settlement agency claims for more, do not believe them blindly. If their promises appear too good to be true, verify whether they are capable of providing the services they trumpet about or not.

 

The FTC has decided to take strict action against the scammers who have slammed the debt relief market. Once these companies are banned then you can avail help of an authentic debt relief firm quite easily and can secure your financial future. Stay alert and follow the above mentioned points to save your self from debt settlement scams.