Debt Settlement
- Same Day Debt Settlement Approval
- 50% - 75% reduction in payments
- Call Now: 1-866-524-4197
What's are my Debt Solutions?
Debt Settlement, also known as Debt Negotiation, is a type of program for consumers who are overwhelmed with unsecured debt. It is an alternative to bankruptcy for people with substantial unsecured debt – over $15,000 – and little ability to pay it off on their own.
A debt settlement program will settle each account for a greatly reduced amount, usually about fifty to sixty cents on the dollar. Depending on the total amount owed and the clients ability to pay, it usually takes somewhere between 6 and 36 months to completely settle and pay off all of a client’s debt. During this time, the client makes monthly payments, usually into a trust account, until sufficient funds have accumulated to initiate settlement activity. Each debt on the program is settled, one at a time, usually from largest to smallest, until all have been settled and nothing else is owed.
Debt Settlement allows debtors to pay off their debts in a shorter time than Consumer Credit Counseling because the amount owed (principal) is reduced, not just the interest rate.
Is Debt Settlement right for you?
If your total unsecured debt is more than $15,000, and you cannot make all of your monthly payments each month, or cannot pay more than the minimum monthly amount to reduce the principal, then Debt Settlement may be right for you. If you are considering bankruptcy because of your credit card debt, and want to avoid it, then Debt Settlement is almost certainly right for you. Call us today to find the best debt reduction program that will help you avoid bankruptcy.
Debt Consolidation
Consolidate debt with our help. We can set up a Debt consolidation program, which is also known as Consumer Credit Counseling, to give you some relief. A debt reduction program allows debtors to pay off their unsecured debts in a much shorter period of time – usually five to seven years. And, for those debtors who are already behind on their payments, and receiving phone calls and letters from their creditors, joining a Consumer Credit Counseling program will stop all of the harassing calls and letters for any account placed on the program.
A debt consolidation program is usually facilitated by a CCC – a non-profit Consumer Credit Counseling corporation. The CCC has structured relationships with most creditors that enable their clients to pay off their debts at a much lower interest rate. With debt relief, the debtor can pay 50% less then what they're currently paying. Since a monthly minimum payment to a credit card company is almost all interest, lowering the interest rate by 50% cuts the monthly payment almost in half. And, a greater percentage of what is paid goes to reducing the amount owed, rather than to servicing the debt.
If you decide that today is the day to get out of debt, during a telephone consultation, a Credit Counselor will explain what the new interest rate will be for each account placed on the program, what the total monthly amount will be, and how many months the debt settlement program will last. The credit card companies work with the CCC’s to allow people pay off their debts in a reasonable amount of time and at a reasonable interest rate.
Is Consumer Credit Counseling right for you?
If your total unsecured debt is less than $15,000 and you are having trouble making your monthly payments, or if you have been making them every month but cannot pay enough to reduce the total amount you owe, Consumer Credit Counseling may be right for you.
Why are credit card interest rates so much higher than mortgage or car loan rates? Because mortgage loans and auto loans are secured debts.
The home or the vehicle is security (collateral) for the lender – if the payments aren’t made, the vehicle will be repossessed or the home will be foreclosed on, and the given to the lender.
Credit card debt, like medical bills, cell phone bills and many other debts are Unsecured Debts. The lender has no collateral, simply the signature and promise of the borrower to repay the debt according to the creditor’s terms, terms that often change drastically, and without notice.
The interest on unsecured debt, especially credit card debt is substantially higher than it is on secured debt, which is why a much higher percentage of monthly paymentsis interest. What does this mean for you? That most of the money, in many cases almost all of the money that you pay in credit card bills each month doesn’t lessen the amount that you owe.
So, like so many other Americans, you find yourself trapped, spending hundreds, even thousands of dollars every month on bills – payments that only buy you until the next month, when you’ll have to pay them again – but never making a dent in the actual principal debt, so you just keep paying and paying, never really making progress on paying down your debts.
Our programs help you get out of debt by restructuring your payments so that more – far more – of the money you pay goes to reducing your principal debt, instead of to interest.
We work with your creditors to create a program that’s designed for you, based on the quantity and quality of your debts. We have relationships with most creditors and collection agencies so that we can effectively launch a debt management program that can help you get out of debt quickly.
And with unsecured debt, getting out quickly is important. Money makes money. Money earns interest for someone. The monthly payments you make on your credit cards are really interest payments on the money your credit card companies loaned you.
If you no longer had the debt, you could put that same money into an account that would EARN interest for YOU instead of the credit card companies.
