December 17th, 2009 by Questions

What are the typical fees debt settlement firms charge for their service?
Does a debt settlement firm have to be lisenced to act on your behalf?

Posted from: Ontario


One Response to “Mark”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

Each separate debt settlement program charges it’s own fees, and they can vary quite significantly.

To answer this question you would have to contact each debt settlement firm directly.

In terms of liscensed, there really is no standard accreditation or liscense that these organizations must have and that is part of the problem. Be careful when you are looking into debt settlement, make sure you do your own due dilligence, check references, and most importantly determine what your cost is, and how much interest will continue to be charged while you are involved. I have seen many so called debt management / settlement firms claim that the interest ceases, when that is not actually the case.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)