Debt Settlement
Reduce Your Debt. Take Back Your Life.
Other than bankruptcy, debt settlement is the only debt relief option that enables you to pay less than you owe. Depending on your specific circumstances, it may be possible to reduce your debt by up to 50% once enrolled in our affiliate program.
Is Debt Settlement Right For You?
Are you struggling to make ends meet and tired of dodging collection calls? Has your debt ballooned to an overwhelming amount? If you answered “yes” to either of these questions, you may be a candidate for debt settlement.
Debt settlement, whether handled on your own or by a third party, involves negotiating with your creditors to settle your debt for less than your existing balances. This type of debt relief is far from easy. It can take several months or even years for the process to play out. But it can also be a welcome relief when bankruptcy seems like the only option. Before deciding if this type of program is right for you, be sure to weigh the risks and rewards.
Debt Settlement: Risks vs. Rewards
Although debt settlement may seem like the perfect solution for your debt troubles, it’s not right for everyone. Here are some things to consider before moving forward.
Risks:
Negatively impacts your credit score. Before creditors will negotiate, you must stop making payments. This will damage your credit score. Additionally, once your creditors agree to settle your debt, your accounts will also be closed, further harming your credit.
Third-party fees can be fairly high. If you elect to hire a company to help you settle your debt, fees can average 25% or more on the amount you settle. This is on top of enrollment and account maintenance fees.
It could take several years to settle. Your accounts must be severely delinquent before a creditor will reduce the amount you owe. It typically takes between three and five years before everything is finished.
Some creditors may refuse to negotiate. Some creditors will not negotiate with debt settlement companies. Instead, they may elect to take legal action against you.
The forgiven debt could be taxable. If your debt is settled for less than you owe, the forgiven amount must typically be claimed as taxable income when filing your tax return.
Rewards:
Stops harassing calls. Once a settlement is reached, the calls from creditors and collection agencies will cease.
It can help you avoid bankruptcy. Settling your debt for less than you owe could give you the breathing room you need to get back on your feet financially.
Reduces the debt you currently owe. It’s possible to reduce your current debt by up to 50% or more. You may even be able to get penalties and interest fees waived.
Pay your debt off sooner. If you’re barely making the minimum payment each month, it could take you a decade or more to pay off your debt. Debt settlement, however, allows you to pay off your balance with a single payment in under five years.
Before you enroll in any debt settlement program, do your research. Compare fees and check to see if there are any complaints on file with the state attorney general’s office in your state. It’s also important to understand that regardless of which company you choose, there’s no guarantee that a settlement will be reached for all your creditors.
How Debt Settlement Works
At CreditSolver, we work with the leading settlement specialists in America to provide you with affordable solutions for your debt problems. We offer a simple 3-step process:
Free Consultation
It all starts with a free consultation where our credit consultants will pre-qualify you for our affiliate program.
Action Plan
Once qualified, you’ll be paired with a certified debt specialist who will explain your options, give you a savings estimate, and provide a customized plan.
Freedom From Debt!
After selecting your plan, your specialist will negotiate with your creditors and get you out of debt within 24 – 60 months.
If you have at least $7,500 in outstanding debt, now is the time to see if you’re eligible for our affiliate debt settlement program.
The information provided is for informational purposes only and is not intended to provide legal or financial advice. CreditSolver is not a lender, loan broker, or debt settlement company. Although we offer a free, pre-qualifying consultation, all services and fees for any approved debt settlement services will be handled by a third-party affiliate. Entering a debt settlement program may adversely affect your credit score.
It Only Takes a Few Minutes to Qualify!
Thank you for your interest in our debt settlement program. Unfortunately, you do not qualify at this time. Please visit the Federal Trade Commission for more information on how to get out of debt on your own.
Thank you for your interest in our debt settlement program. One of our credit consultants will be contacting you soon. If you’d like to speak with someone immediately, please call 904-490-9087. We look forward to connecting with you soon.