Debt settlement is debt relief solution available to those who can’t afford to pay off the total amount of debt they have accumulated. For those in serious financial trouble, debt settlement can be a good alternative to more drastic options like bankruptcy.
How does debt settlement work?
The purpose of debt settlement is to reduce the total amount of money you owe your creditors. Debt settlement is typically used when a consumer has accumulated a significant amount of credit card debt or other unsecured debt (you cannot settle a secured debt like a mortgage or car loan). This solution works best when it’s obvious that the borrower will not be repaying their debts.
Rebound Finance will connect you with a debt settlement company where you’ll work with a professional debt settler. The main goal of a debt settler is to negotiate with your creditors and come to an agreement concerning a reduction in the total amount you owe your creditors.
Is debt settlement the right choice for me?
If your current financial situation fits any of the following situations, you may want to consider debt settlement.
- If you can’t afford to repay your unsecured debt.
- If you’re months behind on your payments.
- If you need help dealing with your debt load.
Because debt settlement is a serious financial decision, it’s important that you seek the help of a reputable professional. If you’re interested in more information about how debt settlement can help you become debt free, give us a call today.