Debt settlement is a process designed to help you reduce your overall debt. It involves negotiating with creditors to accept a payment that is less than the full amount you owe. Typically, this option is used by those who face financial hardship and are considering bankruptcy as an alternative.

Debt settlement is suitable for:

• Individuals struggling to make minimum payments
• Those with significant unsecured debt like credit card debt
• People facing financial hardships such as reduced income or medical bills
• Consumers seeking to avoid bankruptcy

Debt settlement can negatively impact your credit score in the short term since it involves stopping payments while negotiations take place. This can lead to creditors reporting missed payments to credit bureaus. However, reducing your overall debt can lead to a healthier financial status and may help you rebuild your credit over time.

We provide transparent guidance on how each step of the process might affect your credit and offer strategies to mitigate this impact.

The duration of the debt settlement process can vary depending on the amount of debt and your ability to accumulate funds for settlement. Typically, it takes between 24 to 48 months to complete the process, allowing you to become debt-free faster than making minimum payments or continuing to accrue interest.

Most debt settlement companies charge a percentage of the debt enrolled or a percentage of the debt reduced through settlement. This fee is generally payable only after a debt is successfully settled. Costs vary by company and situation, but transparent pricing and no upfront fees are standards we uphold.

Understanding the fee structure is crucial, and we ensure you know all the potential costs before starting the debt settlement process.