Debt Settlement Tips in Canada
byon 07-12-2012 at 05:50 PM (101 Views)
"If you are a Canadian resident looking for credit card debt assist, debt settlement is almost certainly your finest strategy to get out of debt. Unlike with bankruptcies and consumer proposals, debt settlement will not ruin your credit and it allows you to get out of debt within 12-36 months! If you can’t afford to make your monthly credit card payments, debt settlement companies will negotiate with your creditors to reduce those payments by about 30-70%.
The debt settlement business has its fair share of frauds, but you’d be hard pressed to find several lines of enterprise that do not. You can’t allow a few poor apples to spoil the bunch. Instead, it is best to appear out for red flags to avoid you from falling victim to one of these Canadian debt settlement scams.
1st of all, it’s vital that you work with a licensed debt settlement business. When you deal with unlicensed firms, you’re given tiny or no recourse if factors go wrong. Plus, they tend to charge you premature fees just before any settlement is made. Often watch out for premature charges! With a performance-based debt settlement firm, you won’t be charged any fees until your debts get settled. In this way, the company is given an actual incentive to reduce your debt, and will not just take your money and run! To remain on the safe side, check with your province’s consumer protection office to see if the company is licensed to work in your province.
Another important step would be to check with the Much better Enterprise Bureau. Does the organization possess a high rating? If the debt settlement service carries a “D” or “F” rating, you could want to consider twice prior to enrolling in the plan.
Even performing a basic Google search can aid you out tremendously. Has the organization received a slew of bad critiques from its clientele? Had been there any lawsuits filed against the firm? Poor evaluations won’t guarantee the company is not trustworthy, but where there’s smoke there’s fire, so it is very best to preserve your guard up.
If the firm has an office in Canada, feel cost-free to drop by sometime, specially if the office is inside driving distance. A fraudulent debt settlement company may possibly claim to have an workplace in a specific city, but the address is really just a post office box that it shares with other companies at the address. Again, that’s a key red flag.
Lastly, be careful of debt settlement companies that tend to use diverse names, stopping clients from locating out too considerably data about the business. Does the organization have a website? Do you see a list of testimonials? Lack of information about a particular debt settlement business is a surefire red flag. <a href=http://www.premierdebthelp.ca/debt_reduction_canada.php>debt reduction company[/url]"