What is the connection between red and green states and debt settlement? Is it important for you to know this information if you are searching for a settlement service provider? Where can you find reputed information in this regard? The World Wide Web provides all the answers.
The division of the country into red and green states is based on the licensing criteria imposed by various state laws. Those states which allow debt settlement companies, also known as debt negotiation or debt management companies, to operate on a for profit basis are called red states. On the other hand, those states that do not permit for profit service providers are called green states.
Simply put, you should never be contacted by a for profit settlement company if you are living in green state. This is a useful tip that will help you find out whether the service provider is genuine or not. Just check out the name of the service provider and make use of the World Wide Web to get more information.
You can visit various domains and traffic related web sites to find out who exactly owns the web site and where is the owner situated. If you cannot find this information online, you can simply call up the service provider and ask them why this information is not public domain.
You can clearly point out that this information must be provided to you if they want you to deal with them. Most individuals are scared of talking tough with their settlement companies. They feel that they will lose their last chance at redemption.
There is no doubt that settlement process, if completed successfully, will have a significant impact on your finances. However, it is just not worth dealing with a fraudulent company. If you are walking towards bankruptcy today, dealing with a financial fraud is only going to convert your walk into a run.
Keep this factor in mind when you are doing research on the web. The worst case option is always present. You can get in touch with lenders and inform them that you have no option but to declare bankruptcy.
If your lenders still encourage you to proceed, you might as well make use of this option to escape your debts. However, this problem will not arise. Use the web properly and you will definitely end up with the right settlement company that will help you escape all your debts.