If you do not qualify for bankruptcy, or are simply not ready for it, you may want to consider debt settlement services. As opposed to bankruptcy, debt settlement is an option that can be utilized if you’re struggling with loans, are unsure of how to repay them back, and are inundated with too many monthly payments. It’s a option that involves direct and sometimes aggressive negotiations with creditors with the aim of reducing the amount you owe to a much smaller amount.
Contrary to popular belief, many creditors are generally willing to forgive a portion of a person’s debts and accept lower payments. We usually settle to a much lower lump sum payment amount, rather than losing the full amount as in the case that you would have declared bankruptcy.
If you can take advantage of debt settlement, you definitely should consider this option. We’ll guide you through the process and fully stand behind you when negotiating with creditors.
You can view your other options to get an idea of what is potentially available to you.