Debt Settlement Program
Debt settlement is a process to eliminate your outstanding debts for less than the amount actually owed to the creditors. In this process, you stop paying monthly installments to your creditors and instead save the money. When you have saved at least 50% of the total amount, we start negotiating with your creditors for a settlement.
Benefits of debt settlement:
- Pay less: When a debt becomes delinquent, late fees, over the limit charges are accumulated with the total debt amount. So you will have to pay higher interest on the debt. We negotiate with your creditors on your behalf, and work to restructure the debts that you owe. In most cases 30% - 60% of the original amount is reduced.
- Get more time to pay: Most debt negotiation plans are worked out for an extended time period. In such cases you have the provision to extend the time span from 2 to 4 years or sometimes even longer. This is helpful for people who cannot afford to pay the whole amount at one go. It is also less likely that you will have to fight with the creditor later to actually delete the negative listing.
- Money is deposited in a trust account, before negotiating starts with your creditors
Downside of Debt Settlement
This negative affect isn't the same for everyone. Someone who has very good credit will obviously take a harder hit than someone who is already past due. However for someone that has high debt balances this also has a very negative impact on your score.
On the flip side, if you already have bad credit then you will find that debt settlement can increase your score, due to the fact that you are going to be paying your debts down. Debt settlement can be a fresh financial start for many people. While you may experience a short term hit to your credit, you must also keep in mind that a credit score is only a snapshot and in time will improve.
IF YOU DO THE WORK !
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Testimonials
Your firm did an outstanding job on my behalf I have to admit that at first I was undecided. Once I realized I was going to better my future, the decision became easy. Thanks for your help! I feel I am credit worthy now.
C. Jenkins Atl,Ga
I am sure NCR hears this all the time, but I could not stop telling my friends good things about your company. When I received the updated copy of my Equifax Report last week, I was overwhelmed with joy. They deleted four out of six negative entries in about three months. I really appreciate your service. I can’t wait to see the negative entries fall off my other reports as well. Thanks a bunch!
L. Goodsby Phila,Pa
Your service is excellent! My Transunion credit report is on its way to being all cleaned up! The past six months have been great. I was able to lease a car easily. I have also applied and received new credit cards. I'd recommend you to anyone that has a scary credit report.
A. Goldsmith Petersburg,Va
You guys did a great job! My FICO score went up 67 points in less than 4 months. I went from horrible credit, to good credit. We have even purchased a house since I began the program.
D.Madden Goshen,Ny
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