Lawgistix

Florida’s Most Experienced
Debt Settlement Company Since 2003
Call US Today at

1.800.535.5179

 
 

Why Lawgistix should be your first choice among all debt settlement companies

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Determining how to choose a great debt settlement company over a mediocre or poor one begins by learning important facts about how each company operates, charges fees, and even how they obtain their clients. Lawgistix strongly urges you to consider the following facts about debt settlement that favorably set us apart from any other debt settlement company.

Over the years, our negotiators have successfully built good working relationships with a majority of the nation’s creditors, debt collectors, and debt collection attorneys (many on a first name basis!). These relationships have been forged and earned the hard way, through years of diligent and persistent professional negotiations followed by our clients’ 100% funding rate. Companies new to debt settlement or companies that operate a large mill-type operation that continuously call creditors and debt collectors without their full intent to settle your account with verified funds are not only less respected by the creditors and debt collectors, but also likely to produce an inferior settlement or no settlement to all.

Another major difference in debt settlement programs is the companies that charge up front settlement fees for their services even before they negotiate a single debt! Now, compared to companies like ours that only charges a settlement fee after you have agreed to the negotiated settlement and have been provided with a settlement letter from the creditor or debt collector. Paying settlement fees upfront usually has the affect of extending your program length further reducing your chances of quickly building and saving funds in your Settlement Account for great settlements that often occur in the first few months of your program.

Most other debt settlement companies charge you settlement fees based upon the total amount of debt that you owe. Does this make any sense to you? Why would you pay on the amount you owe and not on the amount you save? Our negotiators are then encouraged to save you as much money as possible. What incentive do the prepaid negotiators have if they have already collected your settlement fees?

You should choose a debt settlement company that wants you to monitor your own credit report(s) throughout the entire time you are in a debt settlement program. Not using your credit report information is like driving a car with the windshield blacked out or throwing darts blindfolded. You may be able to do it in the short-term, but the eventual outcome is likely to be disastrous. When negotiating a debt, it is vitally important that your negotiator knows exactly what information your creditor or debt collector is reporting on that specific account. In many cases, older debts tend to have more than one collector listed and they should all be accounted for when obtaining your settlement letter.

Beware of debt settlement companies that claim their negotiators are “certified” through some type of arbitration association and posture that said accreditation somehow enables them to achieve better results. That may sound logical to a consumer, but negotiators don’t arbitrate, they negotiate. The true definition of arbitration is “the process by which the parties to a dispute submit their differences to the judgment of an impartial person or group by mutual consent or statutory provision.” Creditors and debt collectors are certainly not “impartial” as they are the party attempting to collect upon the debt they own or have been assigned. There is no “statutory” provision for creditors and collectors to negotiate with a debt settlement company; only respected long-term relationships will reward the negotiator and you with the expected result.

Another type of debt settlement company to avoid would be one claiming to belong to or be “accredited” by, some trade association assigned to clean up the debt settlement industry. Again a marketing ploy more than reality, these associations are not sanctioned, regulated, or controlled in any manner by any government agency or duly sanctioned legal body. Some of their Members are among the country’s worst offenders practicing improper debt settlement operations and procedures. The number of logos, or logo associations, that a debt settlement company displays is not indicative of how successfully they will negotiate your accounts.

We have seen some other debt settlement companies touting that they have been, or are continuously audited by some international auditing firm of which you probably never heard. These firms generally use loose accounting principles that do not comply with guidelines administered under the Generally Accepted Accounting Practices (“GAAP”) that are universally well known and accepted. Lawgistix does not condone the use of trust fund accounts or any other co-mingled funding accounts that normally warrant such audits. Conversely, when you enroll in our debt settlement program, you open, maintain, and safely control your own Special Purpose FDIC Insured Settlement Account. Your Account may be canceled at any time at your discretion by simply contacting your Bank directly via telephone, fax, mail, or email.

Never work with a debt settlement company that suggests that you settle your debts by credit card or allows you to pay any fees associated with your debt settlement program by a credit card. That would be highly unethical and also could be construed to be a fraudulent act on your part. “Loading” up your credit cards or making large transfers from other cards to enrolled cards, prior to entering a debt settlement program, may prevent your negotiator from successfully settling your account, especially with regard to your target settlement goals.

Every single day we receive calls from third-party lead generators wanting to sell us their leads that they have generated through debt settlement service advertising; usually from the radio, Internet, or television. Should you call upon them, it is easy to distinguish between them and a bona fide debt settlement company. Just ask them to provide recent settlement letters (note: lead generators have none) as evidence of results achieved by their company. Additionally, we recommend that if you are still unsure that you have contacted a legitimate debt settlement company, then ask to speak with a negotiator to determine how your specific debts will be negotiated and settled.

Lawgistix has always provided full disclosure regarding our debt settlement program and therefore, does not subscribe to self-appointed trade association disclosures commonly used by other less regarded and less experienced debt settlement companies. When carefully administered and deployed, debt settlement may provide you with a superior alternative to any other form of debt relief. Please be advised that challenges may occur, including but not limited to:

  • Debt settlement companies cannot prevent a creditor or debt collector from charging more interest on your account until it is settled.
  • In limited circumstances, your creditors may regard and report your settlement savings as your income. In such cases, we urge you to seek the professional advice of your accountant or tax advisor.
  • It is reasonable to assume that your credit report scores will continue to decline as a result of your inability to pay your debts in a timely manner as your debts further move into a default status normally required to achieve superior settlements.
  • Inform you that Lawgistix is not a law firm and therefore, no officer, agent, or employee may provide you with legal advice.
  • Once Lawgistix has negotiated your account(s) and obtained your written consent that you have agreed to the term and amount of the settlement, your settlement fees are then due and payable.

Finally, we would like to address the issue of distorted and pseudo guarantees provided by many debt settlement companies that charge their settlement fees in advance and base those fees upon their predetermined guesstimate of the percentage they will save you on your settled accounts. No debt settlement company can accurately predict or otherwise predetermine what savings they will achieve for you as each Client has a vastly different makeup of creditors, assets, employment, and financial hardships.

We sincerely hope that you choose Lawgistix as your debt settlement company, as we strive to achieve the best possible settlements for you, thereby earning your respect while helping you achieve your financial freedom.