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Signature Servicing Review: Here Is What You Need To Know

Signature Servicing Review: Here Is What You Need To Know 1

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Signature Servicing is an established and trustworthy debt settlement company that has been helping borrowers since 2011. Its headquarters in Woburn, MA, is the home base for its operations in 34 states and Washington, DC. They have a stellar reputation for their commitment to helping clients reduce their debt and achieve financial security. Whether you have credit card debt, medical bills, or other types of unsecured debt, the team at Signature Servicing will create a complete custom plan that fits your unique financial needs. With over a decade of experience, you can be sure that your financial future is in the right hands with Signature Servicing.

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ethical debt settlement companies

Signature Servicing: An Overview

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To be considered a potential client by Signature Servicing, you must have a minimum debt balance of $10,000. Like most other debt settlement companies, this is a standard requirement that serves as a guarantee to creditors that the company will be able to make a profit. Additionally, Signature Servicing only settles individual accounts if they have a balance of $500 or more per account. This means that if a client has multiple accounts, but each one has a balance of less than $500, they will not be eligible for settlement. These requirements may seem strict, but they are in place to ensure the company can provide effective debt relief services to its clients.

Signature Servicing has taken a unique approach to its debt settlement services by charging performance-based fees. Rather than charging a fee based on the total amount of debt enrolled, Signature Servicing charges fees based on how much a client saves when a settlement is accepted. This approach incentivizes the firm to work harder to negotiate better settlements, while the process is also offering clients peace of mind knowing that their fees will only be charged if a settlement is accepted. This performance-based fee structure is beneficial to both parties, as it rewards the firm for successful settlements and helps the client save money in the end.

Signature Servicing is a member organization of the American Fair Credit Council (AFCC), the leading trade association in the debt settlement industry, and its debt resolution specialists have received training and accreditation from the International Association of Professional Debt Arbitrators (IAPDA). These accreditations illustrate Signature Servicing’s commitment to providing trustworthy and effective debt settlement services, ensuring that clients receive the highest quality of service.

  • This company provides debt relief services that are handled by their own staff, unlike other debt settlement companies that serve as middlemen for larger firms.
  • Signature Servicing can be found in the majority of states, specifically 34.
  • Signature Servicing has the capability to settle various kinds of unsecured debt and business debt, which encompass credit card debt, personal loans, payday loans, and some categories of student loans.
  • Signature Servicing is a firm that has been operating for 12 years.

Signature Servicing Benefits & Drawbacks

Signature Servicing Review: Here Is What You Need To Know 3

Benefits

  • A member of AFCC.
  • Employs debt specialists who have been accredited by the IAPDA.
  • There is no fee for monthly consultancy.

Drawbacks

  • Each account needs to have at least $500 in balance.
  • Clients who have a debt balance of less than $10,000 will not be considered.

Signature Servicing FAQs

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What Services Do They Offer?

Signature Servicing provides assistance to settle the following kinds of debts through their debt relief solution services: Credit cards debt, personal loans and business debt.

How Much Does Their Services Cost?

Signature Servicing uses a contingency fee system, which means they charge a percentage of the debt or savings negotiated by the consumer with the debt settlement company at the time the consumer enrolls. Generally, clients in the debt settlement industry see a reduction of 45% to 60% of their enrolled debt.

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Signature Servicing levies pay a fee amounting to 25% of the debt.

The cost of debt relief services may differ significantly depending on the client, therefore it is recommended for consumers to contact Signature Servicing directly to obtain an exact estimate.

Do They Offer A Money Back Guarantee?

Signature Servicing does not offer a refund policy. While some debt settlement companies may promise a money-back guarantee, this usually means that they will not charge you until your debt is resolved. However, it is against the law for such companies to collect upfront fees before settling or cancel an account. Therefore, these guarantees are of minimal benefit to customers.

How Much Is The Minimum Credit Score For Qualifying?

Signature Servicing is only interested in serving customers who have unsecured debts of $10,000 or above. If a customer has less than $10,000 of unsecured debt, it is recommended that they consider applying for a

Do They Have Any Accreditations?

The American Fair Credit Council (AFCC) and the International Association of Professional Debt Arbitrators (IAPDA) are the primary trade organizations in the field of debt relief services.

Signature Servicing Review: Final Thoughts

Signature Servicing, LLC has been operating for over a decade and is a reputable company, but there are no reviews to gauge customer satisfaction. Potential customers should consider the company’s reputation, experience, certifications, and awards to make an informed decision. Despite the lack of reviews, their longevity in the industry suggests they are successful.

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