Jan 29, 2018
The 8 Top signs of a scam
If a Debt Restructuring firm tells you exactly how much their fees will be in advance, before they’ve done anything for you, run! If their fees aren’t contingent upon the results of the settlement, they have no incentive to elongate and reduce the debt as much as possible.
Beware of companies that have spelling and grammatical errors on their website. It’s a dead giveaway as to whom you’re dealing with. Take your time, examine every word – this goes for direct mail too.
3) Claims of Experience
Beware of companies that tell you how unique they are, or how experienced they are, or how much better they are but don’t and can’t provide proof of those claims (without you using them first). HINT: Amateurs make unqualified claims and brag about their self-proclaimed greatness to convince others that they are the best yet can’t prove it upfront.
4) Their Website
Be wary of simple and very long one page websites that really don’t say anything – these sites are simply templates and are very easy to make.
Be wary of anyone who claims they will stop lawsuits; they can’t! Instead, look for a company that has a solid plan in case you do get sued. Also, anyone who claims they can stop phone calls, can’t; so look for a company that tells you what to do when creditors call instead.
6) How Fast
If a company touts how “fast” they can settle for you, run! A fast settlement is the last thing you want because the faster you settle, the faster you have to pay! It’s about keeping to an affordable budget.
Be worried If you can’t look up staff and senior management on LinkedIn. If they are operating an ethical business, why wouldn’t they be on LinkedIn and easily found on the Internet?
8) Up-front Costs
Bad firms try to get as much money out of the struggling business as fast as possible – that’s not an affordable strategy, it’s a strategy to line their pockets! You should be able to start a legitimate debt restructuring program with as little as 1% of the total debt load as your monthly payment!
And finally, do a search on the principals of the business debt restructuring firm!
Have they been:
1. Expelled from doing business in another state(s)?
3. Convicted of a felony?
4. Sanctioned or fined by an Attorney General?
It’s a sad state of affairs but there is a better than even chance the company you are speaking with meets one or more of the above mentioned (dis)qualifications!
Call us at 855-708-2672 to learn how to get out of business debt with an excellent firm.