Many people under significant financial strain are unable to pay their bills and find themselves faced with the prospect of bankruptcy. Bankruptcy is not the only option though. Debt settlement allows you to negotiate with your creditors to reduce the total amount of unsecured debt that you owe so that you can eliminate your debts without having to declare bankruptcy.
Debt settlement is the fastest and least expensive option to get out of debt for people experiencing serious financial strain without filing bankruptcy. Debt settlement provides an effective means of resolving outstanding debt by reducing your total debts and allowing you to become debt free within a realistic time frame.
Debt settlement is a process in which people in debt and their creditors negotiate a settlement of an existing debt for a lower amount than the balance of the debt owed. If a debtor is under a financial hardship, creditors are usually willing to settle a debt owed because if the debtor is forced to file bankruptcy, then the creditor generally receives nothing.
Debt settlement companies negotiate with the creditors on behalf of the client to settle for an amount less than the balance owed. The debtor then makes a settlement payment for the agreed upon amount. Once the debt has been paid in full on the settled amount, the creditor will send a letter stating that the debt obligation was fulfilled, and will report to the credit bureaus that the debt has been “Paid”, “Settled”, or “Settled for less than full amount.” As each account is settled, that debt is eliminated and gone forever.
See what Mastercard says about Debt Settlement. Read the article.
Debt Settlement Debt Negotiation works by negotiating the balance owed on your unsecured debt so the amount paid is less than owed. We design an affordable monthly savings plan and your savings are used to obtain a deal from your creditors.
Most likely, yes. Any time you are behind, with or without a program, you will receive calls. However, many creditors are accommodating. Additionally, calls may reduce after the original creditor receives a detailed hardship letter from you.
Debt Settlement or Debt Negotiations effect on your credit score will depend on your current credit status before starting any settlement program. Very few people with debt problems have perfect credit and debt settlement is meant to be a hardship program.
We are the Debt Rx and are one of the longest operating Debt Settlement and Debt Negotiation firms in America. We are not the largest, because our focus has been more on personal attention and service of existing clients than that of enrolling new ones.
We are Debt Rx and are one of the longest operating Debt Settlement and Debt Negotiation firms in America. We operate across most of the 50 states.
* Clients that are able to stay with our services and make the monthly program payments generally experience a 50% reduction of their enrolled balance before fees, or approximately a 29% reduction after payment of fees over a 24-48 month period. Individual results may vary based on ability to save sufficient funds and complete the program, the creditors in your individual portfolio, and amount of debt enrolled. Statements made are examples of past performance and are not intended to be a guarantee that your debt balances will be lowered by a specific amount or percentage, that you will be debt free within a specific time period, or a guarantee of future settlement results. We guarantee we will not receive any fees until the terms of your debt have been altered with one or more of your creditors. While our programs work aggressively to reduce your debt balances, creditors are under no contractual obligation to negotiate or accept settlement offers. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice and we do not provide credit repair services. Please contact a tax professional to discuss tax consequences of debt settlement. By providing your contact information, you agree to receive return telephone calls, emails or other communications from us and/or our affiliates and expressly waive any Do Not Call preference or registration. Photographs used are not actual clients. We are not affiliated with MSNBC, Fox, or CBS and logos used are registered trademarks of their respective owners. Legal requirement: Licensed by the Virginia State Corporation Commission, license number DSP-14. Programs not available in all states. Read and understand all program materials prior to your enrollment.
