Collection Croydon Debt

Debt settlement has become an increasingly popular way for consumers to deal with their outstanding debts. The debt settlement industry is rapidly growing, and there are numerous companies offering debt settlement and/or debt negotiation services. While there are many reputable companies in operation, the industry is also plagued by a large number of fraudulent organizations. When considering a debt settlement company, it's important to know what to look for to avoid falling victim to a scam.

Credentials and Licensing

Each state has different licensing requirements regarding for-profit debt counseling, and a number of states prohibit their operation entirely. A company that attempts to solicit customers in states where they are unlicensed or prohibited is operating illegally and should be avoided. The attorney general's office for each state is able to provide information regarding licensing. The Federal Trade Commission and the Better Business Bureau may also be consulted to determine if there are any consumer complaints on file against the company.

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