Quick Answer: National Settlement Services of Tampa Florida raises red flags by claiming to be “unlike many debt settlement companies” while making standard industry promises about no upfront fees and client-first policies. The company’s press release suggests other debt settlement firms don’t prioritize client interests, despite most legitimate companies following similar practices under Federal Trade Commission regulations.
National Settlement Services out of Tampa Florida, and an “AFCC/TASC” member has issued a press release that seems to sum up their view of the debt settlement world.
National Settlement Services SLAMS the debt settlement world when they say, “Unlike many debt settlement companies, NSS is committed to working with clients and sustains a company policy to always have the best interests of clients a high priority.” – Source
So, many debt settlement companies are not committed to working with consumers and don’t have their best interests as a high priority?
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But it continues. Apparently unlike every other non-attorney debt settlement company that does not charge a fee till a settlement arrangement and payment is made, NSS feels they are unique.
“NSS does not charge any fee until debt relief results are acquired and are the only debt settlement company in the nation to provide a risk free debt relief guarantee. Furthermore, NSS provides a free debt relief reviews evaluation to help develop a debt relief program that is catered specific to client needs.”
So other companies don’t?
“NSS is also a member of the American Fair Credit Council (AFCC/TASC) and adheres and comply with all federal and state laws regulating credit advocacy, with specialty in Florida state laws, and current Federal Trade Commission regulations for debt relief providers.” And surprisingly the company actually does hold a Florida telemarketing license as a commercial telephone seller.
But you would think that such a “leading” company would offer better advice than they do about debt options.
They actually say on their website, “But keep in mind that in 2005, the banks lobbied Congress to make it much more difficult to file Bankruptcy and walk away from your debts. In fact, if you have an income, it may be impossible wipe the slate clean with bankruptcy.” – Source
Too bad it’s not true. So apparently they have no understanding of bankruptcy at all yet think they make “the best interests of clients a high priority.”
How?
Then they say, “Another option for your debt relief is called Debt Settlement. It’s one of the more popular options when you want to do the right thing, you don’t want a public record of Bankruptcy and you want the opportunity to pay LESS than you owe.”
Again, that statement makes no logical sense. Do the right thing by whom? Settlement can result in a public record from being sued by your creditors and the side effects will appear on your credit report for seven years.
Based on the NSS press release and website I would recommend that anyone considering using such a company should read the following free guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
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Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
