Debt settlement is what happens when you negotiate a payoff for less than the total balance you owe on a debt.
This recommendation includes any of you reading who may have committed to settling credit card debts that you stopped paying some time ago.
Following the recommended outline for settling credit cards is suggested because: Following the way we have laid out this section, no matter what stage of collection you might be in (and especially if you are still current with payments to creditors), puts you in the best position to succeed with debt settlement.
We have provided debt settlement education and debt negotiation services since 2004. We have made our customers, members, and readers good at it.
We are also not your Aunt Mildred’s debt settlement company (no offense Mildred).
We have decided to create and publish the online debt relief program for many reasons.
We may fully lay out more of the reasoning in a later update to this section, but for now, here is some of the considerations we have in doing this: We decided to create and publish this guide so that you can tell the difference between whether settling credit card debts is right for you, and if it is, when, why, and how much of your money to put into this method for resolving debt. We offer our support freely to the public through dedicated feedback in the comments on virtually every page of the site, and on our Debt Bytes You Tube channel.
Some of these policies include: It’s the “how will debt settlement work for me” and “is debt settlement even for me” questions that make for the details. And the details when negotiating and settling can change from one creditor to the next; from one collection stage to the next; and most certainly from one personal set of financial concerns to the next.
The majority of what happens in the process of settling credit card debts is controlled by the policies, procedures and protocols that are set up by your creditor or outside third party debt collectors.
Welcome to CRN’s Debt Settlement and Negotiations Guide.