Debt relief / Debt settlement
Settlement is the negotiation engine inside a debt relief program. Here's how creditors actually get to yes, and why the timing works the way it does.
An unsecured creditor holding a delinquent balance has three realistic outcomes: collect in full, sell the debt to a collection agency for pennies, or settle somewhere in between. Once an account is far enough past due, a lump-sum settlement often beats what they'd net from selling it.
Every settlement offer comes to you for approval before it's accepted. You can reject one and wait for a better offer, though waiting means continued interest, fees, and collection activity on that account.
Some creditors have a standing policy of not negotiating with debt relief companies at all. Some sue rather than settle. Both are uncommon and neither is predictable in advance.
Results vary. We do not guarantee that any debt will be settled for a specific amount, percentage, or within a specific timeframe. Fees are charged only after a settlement is reached and approved by you, and range from 15% to 25% of enrolled debt.
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