You Can Safeguard Yourself With Debt Debt Settlement Companies & Fraud Debt Relief Programs
A news story by reporter Pamela Yip of Dallas Morning News of June 23rd 2009, reported that the Debt Relief USA, Inc. of Addison, Texas, one of the chief debt settlement companies in the nation and perhaps the most active promoter at the time on the radio and online in the contemporary debt solutions business, has just filed for Chapter 11 bankruptcy protection and has stopped operations, raising the issue of security against debt settlement company and rip off debt relief programs. Many debtors who were the company’s clients, have some money deposits pending with the company, and are likely to lose some, perhaps even all, of those deposits in the process of the bankruptcy, not to speak of the passing away of some further time that it would now take them in repaying their creditors the debt.
In its court filing with the Bankruptcy Court, the Dallas company, listing $4.65 in assets and $5 million in liabilities, said it is a target in several investigations by state attorneys generals and federal authorities.
Thus, this latest account underscores, once again, the enduring and escalating menace and grave risks to American consumers who fail to become, rather very quickly, properly and sufficiently knowledgeable and informed about the quality and reliability of the debt settlement company they deal with in their debt resolution program, or should even ever deal with, in the first place – a crucial financial issue of how to preclude becoming a rip-off victim in the present American economic times that is the subject matter of a recent chief comprehensive investigation conducted by a major New York-based online review organization.best online debt solutions review
THE NATURE OF THE Devious COMPANIES’ SCAMS
The underlying dilemma is that there has developed notably in recent times during these very trying economic times, many shady, scam debt relief companies in the debt settlement industry which prey upon consumers who progressively more find themselves not capable to keep up with their credit card payments, often offering them false and impracticable hopes, charging mammoth frees, and leaving them in a of poorer quality financial condition than they were before they went to the company. Consumers therefore need to protect against such unscrupulous companies. Such unscrupulous, hoax debt settlement programs and companies would often offer debtors, for example, debt settlement plans that are misleading regarding the character of the services they offer, such as untruthfully representing to them that they can drastically decrease consumers’ credit card debt by as much as 75% just by negotiating with their creditors, when, in fact, such company has never had any occurrence in its past of achieving such a level of deal.
In deed, as reported by this author in a previous article in this medium, in response to this emerging credit outbreak in the nation, we’ve seen in recent months a rise in of regulators and legal powers that be in several jurisdictions across the country signal official concern and alarm that a growing number of companies which operate in the debt cures business today are essentially scam debt relief operations that are out to dupe an overburdened debt-ridden population in a bad American economy. Only recently, for example, in early May 2009, State Attorney General Andrew M. Cuomo of New York, in kicking off a countrywide investigation into the debt settlement industry, subpoenaed some 14 debt settlement companies from across the nation, and one law firm, as he announced that while “today millions of hardworking Americans are finding themselves imprisoned by debt, in response a rogue industry has stepped in offering consumers false hope and charging tremendous fees,” often making the financial condition of such consumers worse, he asserted, than they were before they went to the companies. Cuomo’s subpoenas, which exposed by its makeup a broad inquiry of the industry, include requests that are clearly calculated to uncover the fee structures of the companies, the ways, if any, in which the customers might have benefited from their services, and what kind of debt relief the companies are actually providing their customers.
PROLIFERATION OF SCAM DEBT CURES COMPANIES IN RECENT TIMES
Certainly, not all debt relief or settlement companies are flawed or deceitful. In deed, there are many companies in the trade that are very high-quality and maintain the utmost ethical standards, and high degree of professionalism and dependability in their services to customers. However, the central theme is that there abound in the industry today, many unprincipled companies and individuals, by far more in number by the above-stated recent chief review, that try to take unjustified benefit of debtors who are experiencing personal financial difficulties remarkably during these difficult economic times. Thus, once again, strongly underscoring why it has become, for the American consumers in present times, so citically essential that he heeds the principal call, and gets promptly but properly and adequately educated and informed about the quality and reliability of the debt settlement company he employs to carry out his debt resolution program be fore he (she) ever gets involved.
So, as a debtor or American consumer today, that central issue is: how do you defend yourself with the debt settlement companies, or against becoming a prey of debt scam in these cures programs?
Recent Major Debt Relief Scam Investigation by Online Debt Options Review Organization
Perhaps most relevantly, is the reality that these escalating developments, of which the above-stated Chapter 11 bankruptcy filing by the Addison,Texas, company is only the latest remarkable example, powerfully underscores one intently related fundamental point – namely, the rather inescapable centrality and close relevance of the recent full-scale work of a chief online debt relief investigative review organization, and its findings on America’s debt solutions companies nationally, and their rankings in terms of their quality, reliability, etc. That debt investigationreviewed best debt relief program revealed, among other things, that a astounding proportion of companies, some 82.5% of the website-based operations used in the test sample group (165 out of 200), were basically debt relief SCAMS, while only 17.5 of them were of any legitimacy. And it further ranked some 12 companies nationally as the TOP DOZEN American debt relief companies of great quality, while singling out one company as the topmost and best, Number #1 debt relief company in America, having exceptional quality and superior attributes, and most reliable and reliable for the American consumer.
The Grave Finding and Lesson from this Debt Relief Options Review.
The most key ingredient of the research finding on these companies, is that the critical factors that make the difference are the following:
== the particular debt relief company you pick
== that, to avoid almost the certainty of having to incur extra financial losses in a debt settlement or consolidation program, or of falling {casualty| to a debt relief scam at the hands of {{unscrupulous| companies which now certainly abound in the industry, you need, FIRST and FOREMOST, to proactively search for and pick a right and reliable one,
== that to achieve this, all you have to do – must do – is engage in the proper and complete research, using the suitable criteria.
In sum, the central crux and discovery of the said chief online debt relief investigation, is that as a debtor seeking to resolve your debt trouble through a debt settlement remedy, you can very much reap some major, positive payback by way of getting substantially reduced repayment terms with your creditors by employing a debt settlement company to support you. But that for you to attain that, however, that it all depends roughly totally on one factor – namely, whether you’re able to pick the precise and proper company, or the wrong or sham one to deal with that your relief plan and action.
THE BOTTOM LINE: It is basically up to YOU, the consumer, yourself. You can well preserve yourself with a debt settlement company that you pick to work with and for you. You need not be a victim of debt relief fraud. Rather, armed just with the proper education, and using the correct criteria to make your selection of which company you pick, you can be – and should be – the victor in getting better debt settlement deals and terms with your creditors in today’s grim financial and credit circumstances, and superior overall debt cures.
For more on the report of this thorough debt settlement industry investigation by the Honest Debt Relief Reviews firm, or a inventory of the HDRR Top Dozen and the top Number #1 Best Online Debt Relief Companies in the country, visit: INVESTIGATIONS attop dozen debt settlement programs
http://www.HonestDebtReliefReviews.Org
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