Back to the GlossaryDebt Settlement
Debt Settlement is the process of negotiating with creditors to either reduce the interest on the account, eliminate fees or other items imposed by the creditor, or to reach a settlement for the debtor to pay less than the full amount owed on a debt.
A Debt Settlement plan requires you to place your monthly payment into a savings account with your personal bank. The funds will accumulate there until a settlement is reached with the creditor and then the funds will be transferred to the creditor to settle the debt.
The process will continue to repeat itself until all debts enrolled into the debt settlement plan have been successful settled.
When you consolidate your debt, you will:
- Lower your monthly payment
- Save 40-60%
- Payoff in 36 months
Debts that qualify:
- Credit Cards
- Collection Agency Accounts
- Personal Loans
- Medical Bills
- Unsecured Debt
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Eliminate your DEBT by 40-60%
Client Savings
Joseph
Aspen, CO
Original Debt: $61,960
Settlement Payoff: $27,840
Percentage of Savings: 55%
Erin J.
Hartsville, SC
Original Debt: $13,063
Settlement Payoff: $4,229
Percentage of Savings: 68%
Angel & Robert W.
Oceanside, CA
Original Debt: $17,506
Settlement Payoff: $12,206
Percentage of Savings: 70%
Testimonial
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