Most critics of debt settlement service providers come up with the funniest reasons to avoid this option.
At no point of time can it be denied that there are many fraudulent service providers in the market.
Any person who denies this is telling a lie.
However, running away from the market and skipping a very useful debt relief option just because there are many fraud persons do not make sense.
By the time you wait for the government to regulate the market and make it safe, debt settlement will lose its popularity.
Remember that the current market is a very keen on settlement because of the large number of bankruptcies that has hit the economy.
Once the good time begins, people will forget the dreadful consequences of these bankruptcies and will start forcing their borrowers to repay debts in full.
This is not to say that the settlement will come to an end once the economy improves.
However, creditors will lose their incentive as a bankruptcy here and there will not make a huge difference to their finances.
People often have a big problem with the fact that debt settlement companies charge lot of money as fees.
Who says the services of the settlement company is not negotiable? You may be at the brink of bankruptcy but that does not mean you should lose your head and sign a deal without any negotiation.
Debt settlement is a service and the settlement service provider too stands to gain if you opt for bankruptcy.
Hence, if the fee is way too high, you can insist that the lender come up with a better deal.
Many people fear that such tougher approach is only going to scare settlement companies away.
Well, this is why you can take advantage of the market forces.
There are numerous settlement companies in the market.
All of them are fighting for customers.
In such a scenario, you can take advantage of this competition to get the best deal.
If you specify that you have ten debt settlement services in your hands and you can choose anyone you want, you will find debt service providers are far more eager to negotiate on the point of the high fees.
Using such a common sense approach is definitely going to help you find the best deal.
Any company that is completely inflexible on the point of fees is best avoided because it is probably a fraudulent one.