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Debt Settlement Options


Learn About How Debt Settlement Can Reduce Your Credit Card Debt In 4 Years or Less

Debt settlement is the process of reducing your debt by utilizing attorneys to negotiate on your behalf. Debt settlement is only recommended for those who are behind on their payments, and cannot see any way of repaying the full amount of their debt back. Financial hardships such as a loss of income, reduced or fixed income, divorce, death, or other financial hardship reasons help to aid in your settlement.

The first step to determining if you qualify for a debt settlement is to gather all your credit card and loan statements together. Any credit cards, unsecured personal loans not attached to a house, boat, or car, any medical bills, or collections currently not in litigation can be included in a debt settlement program. Even repossessed car loan balances that you may be stuck with may work. You may choose any term between 12 to 48 months, but the shorter the term, the better.

Once an affordable monthly payment can be determined, a calculation of your total debt savings is determined. You would then be set up on a monthly payment plan where your funds are electronically drafted from your checking or savings account into a FDIC non-interest bearing savings account. The benefit of debt settlement is that when you do not have a lump sum saved up, you have zero negotiating power with your creditors. They always want a lump sum, or three large payments that most people in financial distress cannot afford. In addition our attorneys can help you respond correctly to creditor threats. Not responding can be the worse thing you can do so you want to make sure you respond in a manner to protect yourself.

In addition to setting you up on a payment plan, you are educated on the appropriate ways to deal with creditors, what not to say, and how to demonstrate you are in financial hardship. Debt Settlement does have a negative impact upon your credit score from stopping regular payments to your creditors, but the people we recommend for debt settlement are already behind on their payments, and have already harmed their credit score. Since 35% of your credit score is based upon you making payments on time, debt settlement hurts that factor initially, but as you settle each account, your debt to income ratio (DTI) reduces which accounts for 30% of your credit score. If you have already been missing payments, you probably belong in a settlement program since your monthly expenses are high enough that you can't pay your bills on time.

Since 30% of your credit score is based upon your debt to income high balances over 50% of the credit limit reduce your credit score as well. When you have several credit accounts above 50% of the credit limit, it is no wonder that you are considered a higher risk and that reduces your credit score. Reducing your debt in 4 years or less is the key to taking the appropriate steps to financial independence, and repairing your credit once again. Both our credit counseling programs and our debt settlement programs can have you debt free in 4 years or less;its up to you to choose which program is more beneficial to your monthly cashflow or your current credit score. For a no cost, no obligation quote on your financial situation, contact us now.

Disclaimer: Always consult with one of our account managers regarding your financial scenario to fit the best situation for your financial needs.

For a no cost, no obligation quote on your financial situation, Call Or Text 404-666-8432 To Schedule A Phone Consultation Today.

 


 

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It doesn't matter how you got into debt. We can help you eliminate your debt in a time frame that works for you. Our Debt Management Program can help you do exactly that. For a no cost, no obligation quote on your financial situation, contact us now. or Call Or Text 404-666-8432 To Schedule A Phone Consultation Today.


Debt Settlement Benefits

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*Estimates based on prior results; individual results will vary based on circumstances, including your ability to save sufficient funds and complete the program. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time for debt settlement programs. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Ask your counselor the key differences between credit counseling which makes your payments on time to creditors vs debt settlement. Please contact a tax professional to discuss tax consequences of settlement. Read and understand all program materials prior to enrollment, including potential adverse impact on your credit rating.**While the testimonials and other information on this website may be exciting, Debt Management Affiliates, Debt Management Guys, Debt Settlement Guys, and (or) Debt Consolidation Guys promises only to perform the steps we've agreed to in each client's case. As with any legal work, no outcom.e is promised. Your results may vary.***Facts and Figures on our website are substantiated by our back-end operations. Our back-end operations are accredited by the USOBA and TASC. Debt Management Affiliates, Debt Management Guys, Debt Settlement Guys, and (or) Debt Consolidation Guys are not affiliated with MSNBC, Fox, CBS, or USA Today and logos used are registered trademarks of their respective owners.