Qualifying Your Debt Company18 Questions to Ask a Debt Negotiation/Settlement Company
Are you members of The American Fair Credit Council (AFCC)? Is your company listed on the AFCC website?
The AFCC is the largest and leading association of professional consumer credit advocates who monitor the industry for best practices and work with federal and state regulations to support consumers dealing with credit and debt problems.
America Debt Resolutions is a charter member of the original American Fair Credit Council since 2007.
Are you ACCREDITED members with the American Fair Credit Council or just members? Can you show me your BSI certificate of accreditation?
Accredited members are a select subset of the AFCC membership who have taken the additional step of getting a thorough, yearly on-site audit to confirm the company is conforming with AFCC strict standards. This provides an additional level of protection and security for consumers working with accredited members.
America Debt Resolutions is an 11th year ACCREDITED member of the AFCC. Certificate No. TASC538093 BSI
AFCC members can be found at http://www.americanfaircreditcouncil.org/our-members.
Are you bonded and by whom?
What is it important for a company to be bonded? A bond provides financial surety. You are taking a risk of the company going out of business due to employee or unethical standards and no surety to protect you if they do not have a bond.
America Debt Resolutions is Consumer Debt Management Services bonded by Hartford Casualty.
America Debt Resolutions bond no. 21BSBGD7067
Are they certified and members of the International Association for Professional Debt Arbitrators (IAPDA)?
You want your company to use certified arbitrators. A certified arbitrator means they have been through all of the continuing education classes, passed all of the exams and are certified by the IAPDA.
America Debt Resolutions holds a silver level IAPDA certification. 100% of our negotiators are IAPDA certified.
How many complaints do you have with the Better Business Bureau? What is their rating on the BBB website?
The Better Business Bureau helps people find and recommend businesses you can trust.
America Debt Resolutions has an A+ with the Better Business Bureau (BBB) and continues to have ZERO unresolved complaints with only 6 complaints received in over 13 years and ZERO in the last 12 months.
America Debt Resolutions is the only debt settlement company in the Dallas Forth Worth BBB who has received and maintains an A+Rating in the debt settlement industry.
How much money do you save or accrue in the first 3-4 months for settlements or are all funds applied to service fees?
The Federal Trade Commission ( FTC) issued a final rule October 27, 2010 to protect consumers in credit card debt. Debt relief services consulted over the telephone may no longer charge a fee for debt services before they settle or reduce a customer’s credit card or other unsecured debt.
You want your company to allow you to accrue savings, pay no upfront settlement fees, enrollment fees or claim fees.
America Debt Resolutions does not charge any fees for debt settlement, negotiations or payment resolutions prior to completing settlements in writing and securing a first payment to your creditor. America Debt Resolutions is performance-based. The total fees for our programs range from 16% to 21% of the enrolled debt balances that are settled.
All savings stay in your FDIC insured special purpose account to help accrue your savings.
What do they do to try to help reduce/minimize creditor harassment from calls and letters?
If you are receiving annoying and harassing phone calls from your debt collectors, then may be VIOLATING your FDCPA Rights and could be entitled to $1,000 in damages. Review our “Know Your Rights” article in the blog section of our website.
Keep in mind, while creditors are permitted to attempt to collect on the past due debt, they are not permitted to harass you. America Debt Resolutions provides a service to help redirect creditor calls and correspondence. We also offer a legal protection plan that clients may add to their debt relief program.
Do they monitor your creditor calls and correspondence? Or will you have to be calling 9. and sending them everything yourself?
America Debt Resolutions extends the redirecting program, as mentioned above, which provides a new phone number and address to use as your own while we monitor your collection cycle. America Debt Resolutions provides the option of redirecting within 24 hours of program enrollment. If you are considering to partner with another company to help with your debt, ask if they will help minimize collection calls and mail, or will you be the middle man having to forward all correspondence.
What is their client support like? Do you have a dedicated team assigned to you throughout the program? Are you in the hands of a call center? Is the customer support outsourced?
With America Debt Resolutions, you will have a dedicated client relations manager/coach to work with you every month. We proactively reach out to you every 4-6 weeks to give you an update on your enrolled accounts, and clients will each have access to their client portal. WE DO NOT outsource any of your information or support.
Do you work with a national law firm who will represent you if a creditor pursues you legally?
America Debt Resolutions will not charge you any upfront fees but WILL have the option for a local attorney retained in your state with our legal plan. IF needed, they can provide full responses, client legal protection, filing answers, demands on your accounts and court representation until the case is closed. America Debt Resolutions will continue the negotiation of your debt in the meantime.
How long have you been in business?
America Debt Resolutions is a 13 year old company with over 30 years experience in settlement and finance.
Do you have a GAAP audit? How do you know they will be in business in the future?
America Debt Resolutions has completed their GAAP Audit in the past. Generally Accepted Accounting Principals assure clients’ companies are stable for future operations.
GAAP is the common set of accounting principles, standards, and procedures that companies use to compile their financial statements, GAAP is a combination of authoritative standards (set by policy boards) and simply the commonly accepted way of recording and reporting accounting information
Do they have proof of settlements?
At America Debt Resolutions, we have actual, real-life settlement letters which can be accessed on our Proven Results tab. Original testimonials are available on our website.
Do they have a written service fee guarantee in the paperwork?
America Debt Resolutions lists a service fee guarantee with all client agreements. Most companies talk about a guarantee, but make sure it is clearly included in the paperwork. Many companies do not have written guarantees.
Do you provide negotiations in-house or do you hire a separate company to negotiate my debt? Does my “Client Services Department” and the “Negotiations Department” work for you?
Typically front-end companies or attorneys who have gotten into the settlement business to make fast money are quick to enroll you to get their hands on the service fee and then send your account off to a third party to take care of you. Ensure the company has in-house certified negotiators who do not send out your file to a third party or worst yet a call canter which is out of the country. Most of the time, these third party companies are in a different state than the original representative you spoke with. They will be making promises for things totally out of their control. Your creditors do not like the idea of you using an expensive attorney or third parties. All employees of America Debt Resolutions work hand in hand for YOU to achieve results. We do not work on the behalf of the creditors
Who controls my savings while in the program?
America Debt Resolutions will help you set up a special purpose account, FDIC insured under your name. You have peace of mind in knowing your money is under your control at all times.
We would caution you to never allow another company to hold your funds for several reasons. If they hold your money then you have no access to it. If you choose to cancel and haven’t paid their full fee they can keep your savings.
What guarantee do I have after completing your program?
America Debt Resolutions will continue to provide dedicated arbitration support regarding your debt after you complete your program. Upon client request, we will obtain $0 balance letters on clients behalf.
Have you changed company name ever in the past?
Unfortunately, this is a growing trend in unethical companies. Many companies will change website domains, phone numbers and other contact information and move on to other victims. America Debt Resolutions does not use an alias to do business and have used the same website domain and toll-free numbers since its inception on 2006.