If your credit card debt has become your number one problem then a credit card debt settlement program might be the right answer to your problem.
Before you choose the settlement company to help you settle your debt or even if you attempt to settle it yourself you must check a few things.
The most important being the fact if you are the right candidate for debt settlement.
Settlement of debt is a method that works best if the debtor owes a huge amount of money to the creditors.
They will not be interested in working with you for a smaller sum of money because they feel that you will make all possible effort to keep your account up to date to avoid spoiling your credit report.
Ideally a debtor should have at least ten thousand dollars in unsecured debt to get a debt settlement.
Once you know that you fulfill the criteria, you can proceed to the next step which is choosing the right settlement company for yourself.
There are a few things that you can check about the company before hiring its services.
Background check: You can start by finding as much about the company through internet.
You can visit debt forums and check about the company there.
You can Google search the company's name and in case there are some complaints or testimonials posted on other sites for this company, you will be able to read them.
Privacy policy: Go through the privacy policy of the company carefully and check if any clause asks for your permission to share your information with a third party.
If yes, you should not work with this company.
Better Business Bureau: Check if there are any complaints lodged against the company with BBB.
Referrals: Ask for referrals from friends and family members.