Debt Settlements - How to Find Legitimate and Established Debt Settlement Companies

Debt settlements have significantly increased in volume in the aftermath of one of the worst economic declines since the Great Depression. This past recession put millions of people out of work and there are more people currently in debt than any other time in history. With so many people in debt, creditors of unsecured debt are becoming increasingly concerned about collecting on their accounts.

This fear along with government stimulus money is making this one of the most advantageous times ever for consumers to try and eliminate their unsecured debt. Consumers need to know how to find legitimate and established debt settlement companies in order to get the most favorable deal. Finding the right debt company can save you a lot of stress and money.

Creditors of unsecured debt are very worried. Delinquent accounts are increasing at an alarming rates and there is the very real possibility that this could get worse. The financial forecast is cloudy at best. Creditors are therefore agreeing to debt settlements that they never would have just a year ago. With the help of a debt settlement company, consumers are eliminating 60% of their unsecured debt on average. 60% is just the average and cases in the 70-90% range are not at all uncommon in this market.

Consumers should understand that debt settlements will negatively affect your credit score and anyone who tells you otherwise is not being truthful. While settlements will temporarily lower your credit score it will not be nearly as bad as bankruptcy. Bankruptcy typically takes about 7 years to recover from while most people recover from debt settlements within 1-2 years. If you are willing to trade a temporary lower credit score to be able to eliminate over 60% of your unsecured debt then debt settlements might be a wise financial decision.

If you want to get out of debt and hire a debt settlement company for debt negotiation then I have an important piece of advice. Do Not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt.

FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link: