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What is Debt Settlement?
The Debt Solution debt settlement program helps you eliminate your unsecured debt by negotiating your debt directly with your creditors. If you are having trouble paying your creditors, cannot pay the minimum monthly payments, and see little or no hope of ever getting out of debt our debt settlement program can help resolve that problem. Using our debt settlement program, most clients can get out of debt in approximately 3 years!
Debt that would otherwise take you ten, twenty, or even thirty years to pay off, with tens, even hundreds of thousands in finance charges, can be paid off in a fraction of the time.
We negotiate with the lender on your behalf to reduce, as much as possible, the total amount of debt you owe. Our product is unique; we negotiate mutually agreeable debt settlements on the total debt owed, not just on the interest as with most debt management companies.
We work within your budget to get you completely out of debt. You pay the settlement as agreed, and we assist you with the process from beginning to end. Once you are out of debt, you can use your financial resources for planning and investing in your financial security and peace of mind.
We accomplish the above by working with you on your budget to determine what, exactly, you can afford on a monthly basis to put toward getting out of debt. We set up a special Settlement Account for you and those funds accumulate in that account until you have enough to settle with your first creditor. Your creditors are notified that you are on our program and asked do direct their calls, letters and other correspondence to our office. Our Case Manager determines what sequence we should settle your debts in order to get you the best possible result. Usually we will start by settling your smaller accounts, but each case is evaluated individually and sometimes a smaller account may be put off in order to get the best possible settlement on a larger account. Situations may also come up that prompt the Case Manager to change the settlement sequence. When sufficient funds are available we approach our contact with your creditor and offer a settlement. Negotiations proceed until we have a settlement that we feel will work for our clients and the creditor. We get the creditors' agreements to the terms of the settlements in writing before we present the details to our clients. We obtain client written approvals on all settlement agreements before any funds are released to the creditors and before we collect our settlement fee. This process is repeated until all unsecured debts are settled and paid as agreed.
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