When seeking debt settlement and credit card relief there is no shortage of companies offering help to consumers. Selecting a reputable debt settlement service to handle your situation honestly and with care and attention can be daunting. To help guide this decision consumers can turn to the BBB because they have implemented strict standards for companies in the debt settlement industry.  The BBB reports that since 2007 the number of companies with claims of deceptive practices rose sharply and for these reasons have enforced strict review of debt settlement companies.

Until recently, there was virtually no regulation or control over the debt settlement industry. Many people seeking debt relief have fallen prey to companies making false claims and in some cases have been left worse off than they were before. Because of the high rate of abuse in this area of the financial services sector, the Better Business Bureau long refused to grant debt settlement companies any sort of accreditation.

BBB debt relief accreditation has finally been made available to such firms and the bar is set extremely high. In order to qualify for as an accredited BBB debt help organization or service, the company is obligated to:

• Obtain approval from the State Attorney General
• File a formal application with the Better Business Bureau
• Disclose all fees and terms of service
• Submit to an extensive review of the company website
• Provide client references
• Appear before the Bureau’s Grievance and Standards Committee

It should be noted that these requirements are unique to those businesses specializing in debt relief and counseling; other types of businesses are not obliged to go through this stringent and exhaustive process.

Stephen Craig, a bankruptcy attorney, founded Trident Debt Solutions specifically to provide a legitimate service to people with over $30,000 in unsecured debt who wish to avoid bankruptcy. Although they have achieved accreditation through the BBB, credit repair is not our focus or part of our process. In fact, we are quite straightforward about this. We cannot tell you that debt settlement will not affect your credit score; in fact, for all practical purposes, debt settlement has the same effect on one’s credit score and report as a bankruptcy. And, if we cannot assist a client in settling their unsecured debt, we will recommend that s/he file for bankruptcy and refer him/her to a qualified bankruptcy attorney.

Trident Debt Solution offers debt settlement services, tailored to the client’s individual needs and situation. If you are burdened with more than $30,000 in unsecured debt and are able to raise a lump sum equal to at least half that amount within an eighteen-month period, Trident Debt Solutions can be of help.

To get started, take a look at some of the online assessment tools that are available here, then contact us either through our web form or by telephone at 303-872-8492. Trident Solutions has offices located in downtown Denver and Boulder.