The recent economic crisis has seen the birth of a multitude of debt-settlement companies all across the country. Because of all the stimulus money the government is paying out, companies are more open to settling losses on unpaid and unsecured debt. These companies are now the most popular way to negotiate settlements or debt reduction on their clients’ behalves, and get them out of debt for good. But with such a saturation of debt-elimination companies out there, how can one find one that has your best interests at heart and not just their own?

The best place to start is to ask family members or friends who have had to go through this process and ask them for a referral. They can inform you if the company they used is a good one to approach. Customer referrals are a terrific way to make certain you get a debt-elimination company that is aboveboard.

If you don’t have any friends or family that has had to use a debt-elimination company, do some research on networks of debt-elimination companies. You see, a network of debt companies requires that all of their employees have a solid history of successfully negotiating debt settlements for their clients. They must also be held to the highest ethical standards. Some of these companies also hire certified debt counselors, who can negotiate on your behalf.

If you are having trouble finding such a network, check out the Association of Settlement Companies. The TOASC will be able to provide you with a list of accredited debt companies in your vicinity.

Make a list of reputable debt-elimination companies, and make sure to talk to each of them. In order to find which one is the best fit for you, question each of them about things like fees, guarantees and repayment schedules. You should also find out what they’d do if they discover that they are unable to help you. If this happens, you many want to consider filing for bankruptcy. At the very least, whichever company you decide on should be able to provide you with the name of a good bankrupty attorney.