Debt settlement is a relatively new process where a company negotiates on the borrowers’ behalf with creditors to reduce the overall debts in exchange for an agreement upon which regular payments will be made. It is considered to be much more aggressive than other alternatives due to reductions in principle balances that are part of each debt settlement. The settlement process can include credit card debts, medical bills in collections, department store cards, signature loans, unsecured lines of credit, and revolving charge accounts.
For many clients, debt settlement is the best debt relief option due to the advantages it provides over the other alternatives. Some of those advantages are:
• A single monthly payment for all your bills included in the settlement process.
• A payment designed to fit in your current budget.
• The whole debt settlement process can be as short as 18 months.
• Clients can extend the process to as much as 48 months.
• Regardless of the length of the process, at its completion the client is free of all debt included in the settlement.
While the circumstances behind each debt settlement are different for each client, there are several outcomes that are common in each settlement. At the initiation of each debt settlement process the client’s payments on the total debt owed will be reduced by approximately fifty percent. Instead of writing separate checks to each creditor, the client writes one check which is deposited to a trust or escrow account where funds are accumulated in preparation for negotiations with creditors. Principle owed across all credit lines in the settlement will be reduced anywhere from forty to sixty percent, depending on the creditors. Finally, at the end of the process all accounts are considered to be paid in full, giving the client a fresh start and saving thousands of dollars in principle and interest.
Debt Settle, Inc. is an industry leader, accredited by The Association of Settlement Companies (TASC). Our expertise, knowledgeable staff, and proven debt settlement skills provide clients with the best possible outcome in each debt settlement. Call us at (866) 985 7388 or start with our on-line application. Either way, you will have taken the first step toward your financial freedom.
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