[et_pb_section fb_built=”1″ admin_label=”Banner Image with Heading and Text” module_class=”vertical-align” _builder_version=”4.16″ background_color=”#e7dff3″ use_background_color_gradient=”on” background_color_gradient_type=”circular” background_color_gradient_stops=”rgba(91,37,175,0.44) 15%|rgba(91,37,175,0) 70%” background_color_gradient_overlays_image=”on” background_color_gradient_start=”rgba(91,37,175,0.44)” background_color_gradient_start_position=”15%” background_color_gradient_end=”rgba(91,37,175,0)” background_color_gradient_end_position=”70%” background_image=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/debt-consolidation-discussion_hero.jpg” min_height=”550px” bottom_divider_style=”wave2″ bottom_divider_color=”#e7dff3″ bottom_divider_height_tablet=”70px” bottom_divider_height_phone=”50px” bottom_divider_height_last_edited=”on|phone” background_last_edited=”on|phone” background_size_phone=”cover” background_position_tablet=”top_right” background_position_phone=”center_left” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row custom_padding_last_edited=”on|phone” admin_label=”Row” _builder_version=”4.16″ background_enable_image=”off” max_width=”100%” custom_margin=”||||false|false” custom_padding=”||90px||false|false” custom_padding_tablet=”” custom_padding_phone=”||80px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text admin_label=”Heading” _builder_version=”4.16″ text_font=”|600|||||||” text_font_size=”42px” text_line_height=”1em” text_orientation=”center” background_layout=”dark” module_alignment=”center” custom_margin=”||26px|||” custom_padding=”0px|||||” animation_direction=”top” text_text_shadow_style=”preset2″ global_colors_info=”{}”]<\/p>\n
Debt Settlement Tips & Advice<\/p>\n
[\/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”4.16″ text_font_size=”22px” text_line_height=”1em” text_orientation=”center” background_layout=”dark” module_alignment=”center” custom_margin=”||||false|false” custom_padding=”||0px||false|false” animation_direction=”bottom” text_text_shadow_style=”preset2″ global_colors_info=”{}”]<\/p>\n
Know the risks and consequences of working with for-profit debt settlement companies.<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” admin_label=”Intro Paragraph” _builder_version=”4.16″ background_color=”rgba(91,37,175,0.15)” custom_padding=”0px||150px|||” custom_padding_tablet=”||140px||false|false” custom_padding_phone=”||45px||false|false” top_divider_style_last_edited=”off|desktop” bottom_divider_style=”ramp2″ bottom_divider_color=”#ffffff” bottom_divider_repeat=”1x” bottom_divider_flip=”horizontal|vertical” bottom_divider_style_tablet=”” bottom_divider_style_phone=”” bottom_divider_style_last_edited=”on|phone” bottom_divider_height_tablet=”70px” bottom_divider_height_phone=”100px” bottom_divider_height_last_edited=”on|phone” bottom_divider_flip_tablet=”” bottom_divider_flip_phone=”horizontal” bottom_divider_flip_last_edited=”on|phone” da_disable_devices=”off|off|off” collapsed=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ width_tablet=”80%” width_phone=”80%” width_last_edited=”on|desktop” custom_padding=”0px|||||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_dmb_breadcrumbs font_icon=”%%20%%” use_home_icon=”off” use_home_text=”on” show_custom_taxonomy_crumbs=”off” _builder_version=”4.21.0″ body_text_color=”rgba(102,102,102,0.8)” link_text_color=”rgba(42,209,61,0.8)” custom_padding_tablet=”” custom_padding_phone=”20px||||false|false” custom_padding_last_edited=”on|phone” animation_direction=”left” global_module=”6437″ saved_tabs=”all” global_colors_info=”{}” link_text_color__hover_enabled=”on|hover” link_text_color__hover=”rgba(90,39,178,0.4)”][\/et_pb_dmb_breadcrumbs][et_pb_text admin_label=”H1 Heading” _builder_version=”4.17.4″ custom_margin=”||0px|||” custom_padding=”||2px|||” animation_direction=”bottom” global_colors_info=”{}”]<\/p>\n
In the end, many people end up viewing the actions of many for-profit debt settlement companies as little more than a debt settlement scam to trick people into signing up for debt settlement programs<\/a> so that they can collect fees. Some of the common misleading tactics and\u00a0tips<\/strong>\u00a0on what to watch out for are below.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” next_background_color=”#e4f8e0″ _builder_version=”4.16″ _module_preset=”default” custom_margin=”||0px||false|false” custom_margin_tablet=”||-5px||false|false” custom_margin_phone=”||-2px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”1px||100px|||” custom_padding_tablet=”35px||122px||false|false” custom_padding_phone=”55px||||false|false” bottom_divider_style=”curve2″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” module_id=”pay-bills” _builder_version=”4.16″ width_tablet=”80%” width_phone=”80%” width_last_edited=”on|phone” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ animation_style=”slide” animation_direction=”left” animation_intensity_slide=”2%” custom_css_main_element=”margin: auto;\t” global_colors_info=”{}”][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/government-approved-misleading_2colm.jpg” alt=”Uncover the Facts” title_text=”government-approved-misleading” align_tablet=”center” align_phone=”” align_last_edited=”on|phone” _builder_version=”4.22.0″ custom_padding_tablet=”||40px||false|false” custom_padding_phone=”||30px||false|false” custom_padding_last_edited=”on|phone” border_radii=”off|200px|20px|200px|20px” box_shadow_style=”preset2″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ min_height=”221px” animation_direction=”top” global_colors_info=”{}”]<\/p>\n Saying that a debt settlement program is \u201cgovernment approved\u201d is very misleading. That\u2019s the same thing as a store selling \u201cgovernment approved\u201d apples or toilet paper. The government does not approve debt settlement programs any more than it approves carrots and yogurt. Just because the government puts a few regulations in place for an industry does not mean that it approves what a business sells or how they sell it.<\/p>\n Related:<\/strong>\u00a0More about\u00a0why the government approved claim is misleading and what the government connection is to all debt relief programs<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” background_color=”#e4f8e0″ custom_padding=”||40px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The only thing debt settlement companies can do to protect you is to try to negotiate your settlements before your\u00a0creditors take you to court<\/a>. They can also suggest that you stop the collection calls by writing letters to your creditors and request that they only contact you in writing. Other than this, there is no legal protection for you if you chose to work with a debt settlement company. They also\u00a0don’t tell you<\/a>\u00a0that creditors can and usually will pursue you for full payment of your debts. If you chose to work with a reputable non-profit organization that creditors trust, then they are more likely to work with you and put off any legal action or collection activities.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ prev_background_color=”#e4f8e0″ _builder_version=”4.16″ _module_preset=”default” background_color=”#ffffff” custom_padding=”165px||165px|||” top_divider_style=”curve2″ bottom_divider_style=”wave2″ bottom_divider_color=”#e7dff3″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Any debt settlement company can \u201csuccessfully\u201d negotiate easy settlements for clients. Some people even do this on their own. However, just because a company has \u201csuccessfully\u201d negotiated \u201cthousands\u201d of settlements here and there does not mean that they have \u201cthousands of successful clients.\u201d If someone has 5 credit card debts, but the debt settlement company only manages to settle with one or two, does this make a \u201csuccessful client\u201d? We don\u2019t think so. We believe that a successful client is someone who legitimately needs debt help, all of their debts are settled and then the client is given every opportunity to learn how to manage their finances better so that they don\u2019t end up in the same situation a second or third time.[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” background_color=”#e7dff3″ custom_margin=”1px|||||” custom_padding=”65px|||||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” module_id=”get-cell-phone” module_class=”custom_row” _builder_version=”4.16″ width_tablet=”80%” width_phone=”80%” width_last_edited=”on|phone” global_colors_info=”{}”][et_pb_column type=”1_2″ module_class=”vertical-align second-on-mobile” _builder_version=”4.16″ animation_direction=”left” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ custom_padding=”24px|||||” global_colors_info=”{}”]<\/p>\n Just because a debt collection company is legally licensed to operate in the United States doesn\u2019t mean that it is licensed to operate in Canada. Most American for-profit debt settlement companies are not licensed in Canada. Most provinces require debt settlement companies to obtain a \u201cdebt poolers license\u201d. However, many American debt settlement companies are avoiding this legislation by never touching their client\u2019s money directly. They get their clients to save up their own money and then send a bank draft to their creditor once a settlement is negotiated. However, these companies will still debit their clients accounts for up to four different types of fees.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ module_class=”first-on-mobile” _builder_version=”4.16″ animation_style=”slide” animation_direction=”right” animation_intensity_slide=”2%” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/american-companies-debit-their-clients-accounts-without-touching-their-money_2colm.jpg” alt=”Typing on Keyboard” title_text=”american-companies-debit-their-clients-accounts-without-touching-their-money” align_tablet=”center” align_phone=”” align_last_edited=”on|phone” _builder_version=”4.16″ max_height=”500px” max_height_tablet=”600px” max_height_phone=”” max_height_last_edited=”on|phone” custom_margin_tablet=”||-23px||false|false” custom_margin_phone=”||-25px||false|false” custom_margin_last_edited=”on|tablet” border_radii=”off|200px|20px|200px|20px” box_shadow_style=”preset2″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” custom_padding=”130px||100px|||” top_divider_style=”ramp2″ top_divider_color=”#e7dff3″ bottom_divider_style=”ramp2″ bottom_divider_color=”#e4f8e0″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The problem with dealing with an unlicensed debt settlement company is that you have little to no recourse if things don\u2019t work with them. Their contracts also typically allow them to collect fees from their clients without providing any service in return. If you sign up with one of these companies make sure you read your debt settlement agreement carefully. Do they make you any promises or guarantees of service in exchange for the fees that they will charge? If they are going to charge you fees and then not promise to deliver specific results, why would you work with them? Reputable organizations will only charge a client after a settlement has been completed. You can easily check with your province\u2019s consumer protection office to see if a company is licensed to operate in your province.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” background_color=”#e4f8e0″ custom_padding=”||40px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Any debt settlement company can portray themselves and their services as being they world\u2019s best kept secret, but what do other people say who have dealt with them?<\/p>\n Another thing to be careful of is that a number of debt settlement companies use different names from time to time. So if you can\u2019t find much information on a company, it could be because it is using a different name now. A lack of information about a company online should probably be viewed as red flag.<\/p>\n There are also known\u00a0risks with a debt settlement<\/a>, like a negative impact on your credit rating. Protect yourself and become informed on why a\u00a0settlement may not be right for you<\/a>.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ prev_background_color=”#e4f8e0″ _builder_version=”4.16″ _module_preset=”default” background_color=”#ffffff” custom_padding=”155px||0px|||” top_divider_style=”curve2″ bottom_divider_color=”#e7dff3″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n How a Debt Settlement Program Can Hurt You<\/a><\/strong><\/p>\n How We Approach Debt Settlements:\u00a0How Our Debt Settlement Services Work<\/a><\/strong><\/p>\nMisleading Debt Settlement and Consolidation Companies
Claim to Be Government Approved<\/span><\/h2>\nStop Collection Calls & Negotiate Debt Settlements
Fallacious Protection From Creditors<\/span><\/h2>\nClaim a Successful Track Record Solving Credit Card Debts
\nBad Reputation<\/span><\/h2>\nThey Say They Are Legal<\/h2>\n
Premature Debt Settlement Fees
Provincial Consumer Protection<\/span><\/h2>\nWhat Do Other People Say About Their Debt Settlement Program and Services?<\/h2>\n
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More Advice on Programs & Options for Settling Debts<\/h3>\n