What is Debt Settlement?

Debt Settlement is a way for an individual to pay back a negotiated portion of their debt that is owed to various creditors. With debt settlement your funds are held in a protected account and the settlement agency makes payments to your creditors. One advantage is that this allows the settlement agency to negotiate with each of your creditors separately and they can work to reduce the total debt that has to be paid back for as little as possible.

While you are in a debt settlement program creditors may still continue collection activities. This includes financial judgments, persona lawsuits, and wage garnishment. It is important that you clearly understand these risks and weigh them heavily.

That is why we encourage you to speak with one of our certified counselors today.

What To Look For In A Settlement Provider

• Good standing with the Better Business Bureau
• Working relationship with a national law firm licensed in your state
• In business long enough to have built a solid reputation
• In business long enough to have built a solid reputation
• Electronic payment processing to ensure timely payments
• Current relationships with most creditors and collection agencies
• Knowledgeable customer services representatives who can answer any question
• Fees that are within normal levels and that are openly disclosed
• A complete disclosure of the settlement process works, disclosure of how it might effect your profile, and an accurate estimate of the amount of time it will take to complete the program
• Its also advisable that they provide educational materials and tools to help you better manage your finances and budget