Debt Settlement

Debt settlement means negotiating with your creditors to resolve an unsecured debt for less than the full balance owed, typically in a lump sum or a short series of payments. It's not the right fit for every situation, and it's not a substitute for credit repair or a payment plan, but for the right circumstances it can be a realistic way to resolve debt that's become unmanageable.

• Review of your unsecured debt to see if settlement makes sense for you
• Direct negotiation with creditors on your behalf
• Clear, upfront explanation of costs before anything begins
• Payment plans available so the process fits your budget

Debt settlement generally works best for unsecured debt like credit cards or personal loans, not secured debt like a mortgage or car loan. The process typically involves negotiating with each creditor individually to accept a reduced payoff amount, which usually happens after an account has fallen behind, since creditors have little incentive to negotiate on an account that's being paid on time.

We'll walk through your specific debts with you during a free consultation and give you a straightforward cost estimate before anything begins. Payment plans are available, and you'll know exactly what you're agreeing to before you sign anything.

Debt settlement is not the right choice for everyone, and we'd rather you go in with clear eyes than a rushed decision. A few things to know before starting:

• Settling a debt for less than owed can negatively affect your credit in the short term
• Creditors are not obligated to negotiate and may continue collection efforts, including legal action, during the process
• Forgiven debt may be reported to the IRS as taxable income
• This is not a payment plan or credit counseling program, and it's not the same as credit repair

We'll talk through whether debt settlement is genuinely the right tool for your situation, or whether something else, like a payment plan or credit repair, would serve you better.

Every credit file is different, so our pricing is custom. After a free consultation, we give you a straightforward estimate for debt settlement help before anything begins, and payment plans are available. If you want to know what is typical across the industry first, read our guide to how much credit repair costs.

The easiest way to start is a short survey about your biggest concern: start your free consultation, or call (754) 243-3020. Consultations are by video call or phone, in English or Spanish.

• How to Remove Collections From Your Credit Report
• How to Remove a Charge-Off From Your Credit Report
• How Much Does Credit Repair Cost?