Are You Using an Accredited Debt Settlement Company in Dallas, TX?

Not all debt settlement companies are the same. When working to pay off your debt and ultimately repair your credit, it’s highly important to steer away from companies who take more than they give.  America Debt Resolutions is one out of only four debt settlement companies in North Texas that are members of TASC, The Association of Settlement Companies.

TASC upholds high standards in the debt industry, and offers membership status only to approved debt settlement companies.  The process of becoming an Accredited Member, involves a two- to three-month detailed review of the member’s processes and practices as they relate to assisting consumers with their credit card debt, and debt from other unsecured loans.

Although each state has its own regulations for consumer protection, Luis Caraveo,  president of America Debt Resolutions in Dallas, TX says “generally speaking, the debt industry is unregulated.  It’s up to companies like ours to work with other companies like ours to regulate ourselves, and do so in a manner that is fair and ethical for the consumer."  Membership of TASC is reliant upon debt settlement companies being able to show that they comply with the standards set in the TASC Bylaws.

The Association of Settlement Companies’ mission is to promote good practice in the debt settlement industry, protect the interests of consumer debtors, and lobby on behalf of debt settlement companies on the federal and state level.  In order to avoid any suggestion of poor business practices, TASC members do not handle, manage, or otherwise control their clients’ personal funds.

Debt settlement companies work on behalf of consumers to help them clear their debts. The companies enter into direct negotiations with creditors in order to facilitate the repayment of debts. In return for their services, debt settlement companies are generally paid a fee by the consumer debtor.

When shopping for a legitimate Debt Settlement company, don't forget these tips:

• the company should have a true “bricks and mortar” street address – no P.O. Boxes.  Additionally, the debt settlement company should not be a business operated from a person’s home
• the company should have no complaints filed with the Better Business Bureau
• the company’s agent should not pressure you to sign up immediately, during the initial fact-finding phone call (if this happens, hang up and move on!)
• and finally, never give your bank account information to an agent over the phone. Companies who are not on the up-and-up will immediately begin drafting your account for monthly fees, before you even sign paperwork to use their service.