How does Debt Settlement / Unsecured Debt Relief Program program work?
Debt Settlement / unsecured Debt Relief Program works by negotiating the balance owed (principal) on your unsecured personal debt accounts through the time-honored process of creditor negotiation. This is different from simply reducing the interest rate as with Debt Consolidation and Credit Counseling, which do not affect the total debt balance. By negotiating the balance itself, Debt Settlement / Unsecured Debt Relief Program provides a much faster means of satisfying your debt. Most creditors are willing to accept a settlement below the balance owed in order to close out an account rather than lose the entire amount in a bankruptcy proceeding. From a business perspective, it is a matter of the creditor receiving something rather than nothing, as would be the case in most bankruptcies. Of course, different creditors have different policies, but as a rule, discounts are routine in the industry. As a consequence of this approach, money that was previously spent on endless minimum paymen
