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Our Debt Settlement Plan
Debt Settlement Plan are plans that allow agencies, such as Consumer Debt Group, to work directly with creditors to secure benefits. These benefits, which vary by creditor, typically include reduced interest rates, lower monthly payments, waived fees such as late fees and over the limit fees, and negotiate a reduction of the amount of debt you owe. If our Debt Settlement Plan works within your budget, you may find this to be your first and best option. Learn why by using the links below.
What is Debt Settlement Plan?
Debt settlement or debt arbitration is a legal process used by both people in debt and their creditors to negotiate a settlement of an existing legal debt. Typically the debt is reduced by up to fifty percent. The legal terminology for this process is called an "Accord and Satisfaction" since you are really reaching an accord or new agreement and then paying or satisfying it. Any person owing credit card debt, or any other debt for that matter, has the legal right to contact and negotiate with the creditors; however, a proper and fair debt settlement requires expert skills, such as those possessed by the debt counselors at the Consumer Debt Group, to convince the creditors to reduce the ultimate debt amount because it would be in their best interest to get something from the borrower instead of forcing the borrower into bankruptcy.
How do you choose a debt settlement company?
Selecting the right provider is a critical component to your success in becoming debt-free through a Settlement Plan. Beware of settlement providers who are less than reputable — many firms do not base payments on your budget, and may not offer legal assistance to help eliminate collection activities and expedite settlements. We recommend a settlement plan through a law firm as the most effective way to help you pay off your debts and provide you with the legal support that may be necessary.
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