Credit Card Debt Settlement
At Square One Debt Settlement, our professional Debt Settlement specialists can negotiate individual settlements with your creditors Our program of settlement services will help you deal with your current debt situation.
Who is eligible for a debt settlement program? Creditors consent to settlement arrangements if they believe that a debt settlement is in their best interest. Creditors recognize that consumers requesting the debt negotiation are usually legitimate bankruptcy candidates. With the knowledge that in most bankruptcy cases they would receive nothing, creditors will accept a discounted debt settlement rather than receive zero dollars as would be the case with bankruptcy.
Bankruptcy candidates include people who have demonstrated an inability to pay their debts as evidenced by their failure to make payments for several months on their credit cards and other obligations; people who do not have assets to act as collateral, such as equity in homes and cars and; people whose current or future income would not allow them to reorganize their finances through a Chapter 13 or a plan outside of bankruptcy. Creditors find out about this information, as well as information regarding assets and income by running a credit report as well as via public records. This is part of the collection process and a major part of determining a proper resolution option for your debt. In order to negotiate the best possible terms for your debt settlement, any evidence of your financial hardship including financial statements indicating income and assets will help us negotiate with that creditor to consider a settlement for each account.
Most credit card debt accounts can typically be settled for an average of 50% (or in some cases less), although some credit card debt accounts may insist on settlements as high as 75 to 80%; While your individual financial circumstances have an important effect on debt reduction, the next most important factor would be the debt settlement policy of each creditor.
To help figure out what your best credit card debt settlement options are, fill out our free debt settlement consultation request form today. Just click on the “Start Today” button below.
Individual results may vary and are based on amount of debt, ability to save funds and successful completion of all program terms. Program does not assume or pay any debts, and does not provide tax or legal advice. Please read and understand all program terms before enrollment. Not available in all states.
