Posts Tagged ‘debt settlement company’

Millions of consumers are crushed under the burden of debt after the recent economic depression in the US. In such situations, people either rely on debt settlement services or they file for bankruptcy as a last resort. These two debt settlement solutions help people to start their financial life afresh. But before you select a debt settlement solution, it is essential to understand the differences between debt settlement and bankruptcy. A comparative analysis can help you make the right decision.

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Photo By Andres Ruedas

It’s no secret that Better Businesses Bureau are not fans of debt settlements companies. According to the Better Businesses Bureau, most debt settlements companies do not do what they’re supposed to do, which is ensure that creditors are getting paid as agreed to by the consumer.  This would be a serious problem if it were true in most cases.

According to The Association of Settlement Companies, the Better Businesses Bureau “felt that the creditors had a right to get paid and that debt settlement obstructed that right. Included in this general line of thought was that debt settlement companies tell consumers not to pay their debts or that the business model ‘educates’ consumers not to pay their debts.”

Unfortunately for the Better Businesses Bureau, this could not be less true of most of the debt settlements companies out there today. (more…)