Do your homework when it comes to debt settlement

Mortgage and Lending with January Financial

Those struggling under a mountain of debt may not be aware of the various options available to get out of that debt. Between declaring bankruptcy, going for credit counseling, or starting the debt settlement process, we think the most sound evidence for success points toward debt settlement.

We are also convinced that it is much easier on you, as well as guarantees you the most reduced amount of debt, to have a team of professionals experienced in loan modification to go through the process on your behalf. When trying to choose the right team to work for you, here are some guidelines for making sure you're getting the best:

  1. Do your homework or seek professional independent advice from others who have done their homework and compare contract terms.
  2. Choose a company that does not charge a set up fee.
  3. Choose a company with a low monthly maintenance fee (never agree to monthly maintenance fees totaling more than $50/mo)
  4. Choose a company that does not charge an enrollment fee, and then later also charges a percentage of what they negotiate away (double fees).
  5. Choose a company that allows you to always have complete access and control of your money paid into the settlement program.
  6. Choose a company that allows you to borrow or simply take back and keep any amounts paid into a settlement fund account without penalty.
  7. Choose a company that allows you to miss a payment and restart your payment plan without having to repay any fees and without any penalties.
  8. Choose a company that has at least several years of experience in the business.
  9. Choose a company that has no complaints or lawsuits against it from past or current customers.
  10. Don't take a company representative's word for these contract terms - read the contract yourself and find these provisions in writing.

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