How does the debt settlement / debt negotiation typically work?
We work with you to figure out a monthly amount you can afford to the program. That amount is electronically debited from your personal bank account to a settlement account which is in an FDIC insured will save a set amount of settlement funds on a monthly basis into an FDIC insured savings account. This amount will be determined in your initial analysis based on your total amount of debt and will be in line with your income and expense budget. Each person’s situation is different and the negotiation process will begin at different times depending on the amount of your debt. Once the creditors agree to a settlement amount, your assigned Debt Negotiator will present this offer to you. If you approve of the settlement, he/she will instruct the creditor to fax over the ‘settlement offer’ in writing. Debts can be settled in two different ways; one lump sum or a term settlement. One lump sum is just that, one payment and the account is paid. A term settlement is a settlement which is paid o
