There are two ways that debt settlement companies are structured.First is the “front-end” style where all the debt settlement company does is obtain customers and then turn around and hand them over to a secondary processor that handles all of your negotiations, payments, etc. This is the method that Debt XS appears to use.

There is evidence on their website (a link) to a third party processor “EFA Processing.” While this does not spell the demise of the company, it is worth thinking about because it reveals the sincerity of the debt settlement company in a small way.

The second way to handle debt settlement is to do it all yourself which is much more costly.

Quick facts about Debt XS / Debt Relief Options:

Founded in: 1998

Years in Business: 11

Number of employees:150 or so

BBB Rating: F

BBB complaints:there have been a total of 166 filed.

Free Information:Free debt consultation form on their home page, but there is no toll-free number given.

Escrow or Payment Plan Available:Payment plans are set up in the client’s name and are maintained by you.

Source of Funds:Monthly payments.

Fee Structure:15% of the debt enrolled and paid out over 12 to 15 months, plus a set up fee that is paid in one to three down payments.

Avg Settlement:Settles over $400,000 per week.

Refund Policy:Not disclosed.

About the Company

A debt settlement company with many trade organization memberships does not mean that they are reputable.In fact, 166 complaints with the BBB is worth being concerned about and is the reason for their “F” rating.

Beginning the Process

Visit their website and fill out their webform.

Types of Debt Serviced

Unsecured.

Program Caution and Your Responsibilities

You must pay extra attention if you seek to do do business with this company since their track record with complaints is not good.

Will Debt Collectors Still Call?

Yes, but they try to help minimized them.

Other Information

Their website is easy to navigate, but lacking in sincerity at times as it contains all of the standard terms and explanations about their services.Usually, you can tell if a debt settlement company is sincere by looking for ‘straight talk’ that shows a measure of honesty and an up-front nature.

Debt XS might be an acceptable company with which to turn to for debt settlement assistance, but you should proceed with caution to make sure that they are right for you.