Before you move forward with a debt relief company, how can you be sure the company is reputable and legitimate? One place to start is to compare companies based on the services they provide, their fee structures, their overall willingness to assist you, and their reputation with customers who review them.
In this article, we’ll explain the numerous key factors to use when comparing debt relief companies. We’ll also cover why each factor is crucial and what consumers should pay the most attention to when choosing a debt relief company.
Factors to Consider When Looking at Debt Relief Companies
The following key factors will give you a clearer picture of the debt relief company you’re considering working with:
- Minimum and maximum debt amounts
- Types of debt the company helps with
- Proposed debt timeline
- Customer reviews
- Company stability
Minimum and Maximum Debt Amounts That Work For You
One of the first places to start is whether or not the debt relief company can handle the amount of debt you have. Most debt relief companies have both minimum and maximum debt amounts they’re able to help with, so be sure to be upfront about your total debt from the beginning to be certain the company can handle all of your debt relief needs.
Types Of Debt The Company Helps With
The next factor to look into when evaluating a debt relief company is whether or not they can help you with your type of debt. Is it all credit card debt? Or is the debt a mix of credit cards, student loans, and secured loans on cars? The best debt relief companies will look at your entire financial picture to help you come up with a comprehensive plan to become debt-free.
Proposed Debt Timeline
What kind of timeline is the debt relief company proposing for you to become debt-free? If the company claims they can erase your debt extremely quickly, beware because there are no shortcuts when it comes to debt relief the smart way. Solid debt relief companies will typically quote a three to five-year timeline for clearing debts that are included in their plan. That said, some debts like student loans or home loans will take longer because they can’t be included in debt relief programs.
What kind of reputation and customer satisfaction scores does the company get? In the world of debt relief, a company’s reputation speaks volumes about the quality of its services. Reading the reviews of actual customers can provide some of the best insight into the kind of experience you can expect when working with a debt relief company.
Trustpilot is one place you can find reviews and rankings of debt relief companies based on real personal experiences. Trustpilot uses a star rating system of 1 to 5, with 5-star ratings being the best, so it’s simple to identify which companies have strong reviews.
Debt relief companies are a leading segment for reviews and star ratings on Trustpilot, and many of the customers leaving reviews often do so because they’re either very satisfied or not satisfied at all with the experience, so keep this in mind.
Most debt relief companies conduct the lion’s share of their business over the phone or online, which can pose challenges for the customer experience. The best debt relief companies will make these processes clean and straightforward, providing customers ample access and support. Look for companies with toll-free numbers and easy contact forms so you know it won’t be a hassle reaching your debt relief specialist whenever you need their assistance.
Debt relief is a somewhat newer industry, which means there is a bounty of new companies out there making claims to offer the most help. Be sure to check into the length the company has been in business, as some may have only been around for a year or less. It’s essential to find an experienced and stable debt relief company, so you’re ensured they’ll be around till you’ve become debt-free.
Debt relief companies that have been in business for five to ten years will be far easier to research and compare, as they’ve been around long enough to have customer reviews and the opportunity to properly address any complaints. How the company deals with customers long-term is something to look closely at.
Online Educational Resources
Most reputable debt relief companies will have an outline of the services they offer on their website, along with plenty of articles that explain their services in-depth. Top debt relief companies will have a treasure trove of information to help guide you in the right financial direction, rather than hiding behind a veil of secrecy about how they get their results.
Also, look for frequently asked questions (FAQ) pages when trying to compare debt relief companies. These pages will provide the most common questions their potential clients ask, along with comprehensive answers that will exhibit the true depth of their expertise. FAQ pages should also include information about fees and pricing, how long their debt relief plans usually take to complete, and what factors will qualify you for each specific program.
What Debt Relief Services Are Offered?
The top debt relief companies will offer a host of services, rather than a single cookie-cutter approach. Find a company that will custom-tailor a debt relief plan that precisely fits your situation. Services can range from the following:
- Free initial consultations
- Debt management plans
- Debt settlement
- Credit counseling
- Client reporting
Partner With A Trusted Debt Relief Company
When you need a partner in your debt relief journey, turn to a trusted company that will do whatever it takes to help you become debt-free—Alleviate Financial. Give our team of debt relief specialists a call today for an honest debt expert analysis of your financial situation and discover your options.
We take the time necessary to fully understand your financial circumstances so we can develop the most effective debt relief plan. Contact us today!