Updates Criteria for Debt Settlement Companies

Debt settlement companies received a ranking criteria overhaul with hopes to help consumers make more informed choices


San Francisco, CA -- (SBWIRE) -- 03/31/2015 -- (BDC) recently updated the criteria for its debt settlement vertical. This is the first time the criteria has undergone a complete overhaul since its initial launch date in early 2014.

Each of the 40 debt settlement companies were re-scored and re-ranked based on the new criteria created by the BDC review team.

"This update was done with the consumers in mind," BDC PR Director Kate Ward said. "We wanted to make sure the most current and relevant information was taken into account to help consumers make informed decisions about a confusing industry."

The new criteria consists of the following points:

- Price
- Time in Business
- Set-up (Including free consultations, refund policy)
- Accreditations
- User Reviews
- Expert Score

These new criteria points were created to better rank companies on different industry factors. Each point was researched to clarify their importance for customers and to the industry in general.

"When money is involved, especially debt, there is more at stake for potential customers," Ward said. "This update of criteria was designed to help potential clients feel at ease about the companies we are recommending."

One of the more substantial criteria updates is in regards to the user reviews. The previous criteria had user scores weighted at 15 percent of the overall score. However, this update pushes the user reviews up to 25 percent.

The BDC review team felt that the customers' voice should be heard more regarding this industry. Debt settlement companies provide services to individuals who can be in dark places regarding their finances. The review team wants to allow users to share their experiences and help others who may be in similar situations.

Currently, the top settlement companies on include Freedom Debt Relief, Superior Debt Relief, Pacific Debt Relief, ClearOne Advantage and Accredited Debt Relief. strives to provide customers with unbiased reviews and allows users to have a voice.

For more information regarding the debt settlement criteria update, visit

Media Contact
Kate Ward