Debt Settlement Service
Fast and Furious
That's how your debt is handled through a debt settlement service. Why? Because debt settlement is the fastest way to get out of debt. How's it work? You contact a debt settlement service and tell them you how much debt you have (for the sake of making the math easy, we'll say $10,000, which is just above the national average). However, you have $4,000 saved up. Not nearly enough to pay everything off in full, but not chump change either. You're having trouble making ends meet each month, and although you were saving that $4,000 for a car, you heard that it could be enough to pay off all your debt. You're probably wondering how that's possible when you owe $10,000. Well, debt settlement services hire skilled negotiators to talk to your creditors and score you big reductions in balance and interest rates. Sometimes a debt settlement service can even get you reductions of 60-80%!
Once you sign with a debt settlement service, the debt settlement company will contact your creditors and tell them that you have $4,000 and you want to get your accounts paid off and make them current again. A good debt settlement service can get your creditors to agree to that. Your debt will be considered "paid in full." But the tradeoff is that your creditors will usually want to be paid right away, if not sooner. And if they don't agree to an amount that low, they might agree to give you 1-3 years to pay the difference. However, if they do agree, in a matter of a week or less, you can be debt free. Talk about lightening speed! And it's all because of debt settlement programs.
All material copyright © 2008 About Debt Management. All rights reserved.
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