Business is a tricky job.  Not all can succeed in this if they are not well prepared with all the factors involved in doing business. The terms like assets, investments, expenses, profit, loss, sales, production, debts, etc. are the most frequent terms used in a business.  As a businessman, you should be able to tackle problems associated with debt dealing.

Debt dealing is not but dealing or tackling with the lenders or creditors at the time of debt settlement.  Normally if the debts that are taken are settled within time, there is no problem, because lenders like debtors who clear their dues within the time limit.  But the lender gets irritated when his debtor is not able to pay the due amount despite repeated warnings.  If you do not take the required action, the situation may get worse, and the lender may approach a court of law seeking settlement of his amount.  You or a professional can do debt settlement in this field can be approached. 

Factors helping in the selection of best debt settler:  Debt settlement means settling with the lender about waiving of partial or full due amount or extension of time limit.  It is nothing but negotiating with the lender. Just browse your search engine, and you will get a number of links showing details of various debt settlers available in the market. Now, who is a debt settler?  A debt settler is a person or a team who mediates between the debtor and the creditor on behalf of the debtor and tries the settle the issues prevailing between both the parties.  But the fact is that the debt settler chosen to solve the issues should be the best. When you choose the best debt settler, you should be in a position to pay the professional fees also, because nothing comes free of cost. It is a common fact that the more popular the debt settler is, the more the charges will be.  Following are some of the factors which help in choosing the debt settler:

• Debt settlement reviews: Reviews are the personal opinions given by people who have utilized the service.  Debt settlement reviews are the review given by the individuals who have enjoyed the services of a debt settler and got his/her issues solved. Debt settlement reviews may be good or bad based on the experience of the individual.  So, if you are analyzing the status of debt settler by reviews, you need to cross check in the market also about how they are working.  This analysis would help you by saving your money being wasted on unworthy people. This also tells about scammers who cheat their clients. 

• Fee structure:  Normally when your issue of debt is solved, it is done on a promise from you that you will be paying some professional charges.  So, when you approach any debt settler company, ask for their fees structure.  Now compare the fee structure of 2 or more debt settling companies and select the best. Choose a debt settler who is charging a reasonable fee structure which you can afford to pay.  Because even this fee also will be a burden to you in case you are a defaulter in paying your dues.  There are two types of fees charged by the professional- one is on a flat rate, and the other is commission based. Flat rate fee structure refers to the amount that is flat irrespective of the due amount.  But the fee based on commission is the amount which is charged on a percentage of the due amount. Based on the demand, the professional may charge you high commission fees also.  So, based on the expenses incurred you will be in a position to decide whether you want the professional’s service for a longer period or you want to hire on requirement basis.

• Time is taken to solve the issue: Normally when a debt or loan is given, the lender or creditor sets some terms and conditions for which the debtor agrees to get the loan. In this terms and conditions, the time of payment is also mentioned.  In case of non-payment of debt, an additional of 6 months to 1 year can be expected from the lender by default.  So, a good debt settler is one who solves the issue in less time.  In case the time taken to solve the issue is more than the lender may opt to go to the court of law for justice.  In that case, the treatment will be more severe as the court is involved.  

• Analyze with whom you are corresponding:  You should remember the fact the like other businesses, even debt settling service is a business done by the professionals.  So, like you have a marketing team, even the debt settling company will also have a marketing team.  Their objective is just to get new clients.  So, they make a number of promises to convince you.  But it the attorney working in the debt settling company who actually will do the needful.  So, even though you have corresponded with the salesman of the debt settling company initially, get in contact with the attorney who will actually solve your case.  So, it is advised to you that approach a company who has professional staff qualified in law because only a person with required subject knowledge can solve your problems tactfully. 

• References: Normally a good debt settler always gives you the reference of the services rendered by them.  This does not happen in case of a poor and unsuccessful debt settler. So, you can always check the references given by the debt settler and then decide on hiring them.

You have every right to hire the debt settler of your choice but ensure that they are professionals working in the company with a track record of experience and success in whatever they are handling. There is another way of settlements that is by using local goons support.  This sort of activity is illegal and should never be practiced.