The short answer to your question is, “maybe.” Read on for my longer, more complete answer.
During the time our Bills.com developers were coding our Debt Coach application, we shopped bankruptcy lawyers, debt settlement and credit counseling providers who had good reputations to learn the costs for each of these approaches. Then, after we developed the alpha version of Debt Coach, we tested our average numbers again against the providers we believe represent their industry and found small discrepancies, as you would expect, but nothing significant statistically.
It would surprise me to learn our results are “very different” from a reputable provider, and you should be cautious in dealing further with this provider. A deal significantly lower in cost or shorter in payoff may be too good to be true. A deal significantly greater in cost or longer in payoff would be suspicious, too. You should shop around, so you can compare what different debt settlement companies say.
If you are considering an offer from a debt settlement provider, be aware the debt settlement industry is now required to follow rules issued by the Federal Trade Commission that went into effect in October, 2010. These rules were created to protect the consumer from unscrupulous debt settlement providers. I will not quote all of the new rules here, but the key rule is anyone enrolling in a debt settlement program is not required to pay a service fee to the settlement firm until his or her first account is settled.
Make sure any debt settlement firm you consider complies with the FTC rules. In my experience, the good ones state they do up-front. The bad ones dance around this question, or claim the FTC rules do not apply to them.
See the Bills.com article Protect Yourself From Debt Relief Scams to learn which signs to beware when choosing a debt resolution provider. Bills.com partners with debt resolution providers who comply with FTC rules, and have a track record of good customer service. Complete this form to receive a no-cost, no-obligation, no-gimmick quote from a pre-screened debt resolution provider that is right for your situation.
I hope this information helps you Find. Learn & Save.