Not All Debt Reduction Companies are the Same

Any matter related to your personal finances needs to be handled very carefully, since a mistake in this area can be very costly.  90% of the doing  a successful debt reduction plan is in choosing the right firm to do the work.  Most firms charge an up front fee of 15% of the amount of debt you have, while others  only charge a fee when they complete a settlment.  NEVER hire a firm that charges 15% up front.  They have no incentive to work for you once they have received all their money.  This is the classic debt settlement scam.  Companies are being shut down every month by the Federal Trade Commission who have this type of fee structure for debt settlement.  If you hire a company that works on commission, then you are assured that their incentives match yours-  the more of a reduction they get, they more they get paid.

Demand references.  A reputable company should be able to give you the names and phone numbers of 3 happy clients who can tell you first hand what their experience was like.  Last, consider hiring a lawyer to do it.  A lawyer is the most qualified, has the ability to handle any tough debt collector and is accountable to the bar association for his actions.