Alternatives to Debt Settlement
What Debt Settlement Covers
Debt settlements only work for unsecured debts, which are debts that you haven’t put up collateral for. That’s because creditors have no reason to accept less for your debt when you could just sell the collateral to pay them back, whether that’s your car, house, or other assets. If most of your debts are secured, then debt settlement is probably not an option worth exploring.
A debt settlement negatively affects your credit because it allows you to repay less than what you owe. This negative effect will last for 6 years unless you use the debt settlement program of a non-profit credit counselling organization like us. When we negotiate settlement for a client, the effect on your credit lasts 2 years.
Thank you for giving me my life back!
I had almost forgotten what it was like to have a good night’s sleep and not wake up stressed about money . . . there are no words to describe my gratitude. Thank you for giving me my life back!