Debt Settlement
It’s time you knew this.
You have rights regarding your unpaid debts. Of course, a creditor can take legal action against you in court and potentially win a judgment. Don’t assume that this will always happen, however.
Is this you? Feeling consumed and overwhelmed by debt?
Too many consumers believe that their debts are overwhelming and that there is nothing they can do other than file bankruptcy. Not so. And don’t believe those frightening tales told by collection agencies of gloom and doom, especially about garnishment and seizure of property.
Debt settlement is a practical solution that is very effective.
Debt settlement, also known as debt negotiation, is a method used to permanently eliminate some types of debt. Often reserved as a last attempt to collect a debt prior to writing it off as uncollectible, creditors are sometimes willing to accept a reduced financial settlement in order to fully satisfy a debt.
One of the most common questions that individuals have regarding a debt settlement program is how their credit report will be affected. Some experts state that debt settlement is damaging to a credit score; but compared to the alternative of having continually reported late or missed payments, debt settlement shows that you have made an attempt to repay the creditor within your means. Once a creditor accepts a debt settlement, they will report the account as "Settled Account" or "Settled in Full" to each of the three credit reporting agencies, including Experian, Equifax and TransUnion. Every 12 months, you can obtain a free copy of your credit report from each of the three credit reporting agencies noted above.
Depending on the total amount of debt that you currently owe, a debt settlement program can take several months or even several years to complete. They are one of the industry's best kept secrets, allowing debtors to get in control of their finances.
Interested? Click here to learn more and get started.
