Debt Settlement

Debt settlement, also known as debt negotiation, is an approach to debt reduction in which the debtor, you, and creditor, the bank or credit card company, agree to reduce the balance that you owe, reduce the interest rate, or a combination of the two.  You can attempt your own settlement or hire us to negotiate for you.  With the increasing default rates, banks have established debt settlement departments staffed with personnel who are authorized to negotiate with defaulted cardholders.  Typical settlements range between 25% and 65% of the outstanding balance but, as with any settlement attempt, there is no guarantee.