If you’re a business owner dealing with MCA debt, you’ve probably already discovered something uncomfortable: the companies promising to help you aren’t always trustworthy either.
The business debt settlement industry is unregulated. There are no licensing requirements, no mandatory credentials, and no government oversight for the companies that negotiate MCA contracts. Anyone can start a debt settlement company tomorrow — regardless of experience, education, or track record. The industry is flagged as high-risk due to the volume of scams, complaints, and lawsuits filed against settlement companies.
So how do you separate the real from the fake? Here are the questions you should be asking before you sign anything.
DO THEY REQUIRE A LARGE UPFRONT RETAINER?
This is the single biggest red flag. Many debt settlement companies collect a 10% retainer fee and then a 20-30% fee of your total debt before they make a single phone call. Once they have your money, you have no recourse if they don’t deliver. If a company requires thousands of dollars upfront before doing any work, ask yourself: whose interests are they protecting — yours or theirs?
Look for a company that ties its fees to results. At SOS Debt Solutions, our largest fee — the 10% success fee — is earned only when a debt is successfully settled. We frontload our work, not our fees.
CAN YOU VERIFY THEIR REVIEWS?
Real reviews on third-party platforms like Trustpilot, Google, and the Better Business Bureau are worth more than any testimonials on a company’s website. Check for volume, recency, and specificity. Generic five-star reviews that say “great company!” without details are often fabricated.
SOS Debt Solutions maintains a 4.7 rating on Trustpilot, a 4.8 on Google, and an A+ rating with the BBB — accreditation that most competitors cannot achieve due to complaints filed against them.
ARE THEY BBB ACCREDITED?
BBB accreditation requires a company to meet specific standards for trust, transparency, and complaint resolution. In an unregulated industry, this is one of the few objective measures of credibility. Many debt settlement companies cannot obtain accreditation because of the volume of complaints and legal actions against them. Ask the company directly: are you BBB accredited? Then verify it yourself.
WILL THEY TELL YOU IF THEY CAN’T HELP?
This might be the most important question. A trustworthy company will tell you upfront if your situation isn’t a fit for their services. A dishonest company will sign you up regardless, collect their fees, and figure it out later — or not at all.
At SOS, if we’re not the right fit for your situation, we’ll tell you. That’s not a marketing line — it’s a business principle. We only take cases we’re confident we can resolve.
DO THEY COMMUNICATE TRANSPARENTLY?
Once you sign with a debt settlement company, do they disappear? Many business owners report signing up, paying fees, and then hearing nothing for weeks or months. You should have a dedicated case manager, regular updates, and the ability to reach a real person when you call.
At SOS, every client has access to their own client portal and works with a dedicated team — from your initial consultation with Paige to active negotiations managed by Lynley. You’re never left wondering what’s happening with your case.
THE BOTTOM LINE
Choosing a debt settlement company is one of the most important decisions you’ll make for your business. Take your time. Ask hard questions. Verify everything. And if a company pressures you to sign immediately or won’t answer your questions directly, walk away.
If you want to talk with a company that will give you straight answers from the very first call, reach out to SOS Debt Solutions at 561-946-2840. In 15 minutes, you’ll know exactly where you stand.
We frontload our work, not our fees.