Debt settlement is a process to settle on debts that are owed but typically the holder or the person obligated to pay that it cannot meet their obligations. Settlement is an approach to reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. The truth is that typically very few consumers have their debt truly eliminated.
As a matter of fact, according to study released by the Colorado Attorney General, only approximately 11% of consumers that had enrolled had their debt actually settled after three years. When asked if most of them were better off after settlement management, the consensus was that it was an understatement. You are legally obligated to pay the creditors and if anyone tells you to stop making payments to creditors, you do so at the risk of having your credit scores reduced, as well as the impact of having missed payments which can remain on your credit report for seven years even after a debt is settled.
What’s missing from the world of debt settlement are real results – and that’s because most debt settlement firms don’t use the law like Debt Solutions Service does! To get a good understanding of what you should do or what your rights are – seek the advice and counsel of a firm that is dedicated to helping and has the expert legal team you need.
With our dynamic financial management and legal experts our team can help you get the best possible outcomes. We make debt settlement easier by having experts in both the financial management and legal fields available to help on what matters most to you – your financial well-being.