Debt settlement companies are largely unregulated. That means that, as a Minnesota debtor, you might find significant differences between the debt settlement company you talk to as they vie for your business. It can be difficult to know which debt settlement is going to help you and which is going to cause you more financial harm. Thus, our Minneapolis debt relief lawyers recommend that you ask a lot of questions before hiring a debt settlement company to work for you.
What You Want to Know Before Allowing a Debt Settlement Company To Work on Your Behalf
Settling your debts is understandably tempting. However, it is important to ask questions about the debt settlement company’s business and practices, such as:
- Are you a member of the American Fair Credit Counsel? Members of this organization voluntarily agree to certain standards.
- How are fees calculated? Are they based on performance or a percentage of your outstanding debt?
- Is the debt settler who works with me paid on commission?
- How long have you been in business?
- Do you accept any kind of compensation from creditors?
Contact a Minneapolis Bankruptcy Attorney for Help with Overwhelming Debt
Unlike debt settlement companies, bankruptcy lawyers in Minnesota are strictly regulated. If you want the security of a lawyer’s help making sure that your legal rights are protected, please contact us today at MN (952) 920-1001 or AZ (480) 207-2203. We also invite you to learn more about the bankruptcy process in our FREE book: What You Need to Know About Filing Bankruptcy in Minnesota.