How Debt Settlement Works

Curious how debt settlement works?

Debt settlement is a fairly straightforward process that involves a negotiation between a creditor and a consumer in which the overall debt balance outstanding is settled for less than the amount currently owed.
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If you have high amounts of unpaid debts, a settlement can be an effective solution.
Debt settlement is the process of negotiating with creditors to reduce what you owe.
Here’s what you can expect if you choose this option for debt relief:
First, you’ll need to assess your finances.
Do you owe $10,000 or more for things like credit card debt?
If so, settlement might be your best option for debt relief.
Next, decide on a provider that operates in your home state.
Look for an accredited debt settlement company to handle your negotiations.
At TurboDebt, you’ll start with a free consultation so we can get to know your individual needs.
Once you enroll in a debt settlement program, you’ll begin making monthly payments into a savings account.
You’ll also stop paying your creditors, saving up enough money to pay off your debt.
The settlement company then negotiates for a reduced payoff amount, using their expertise to lower your debt burden.
Creditors often agree to reduce your total by 40-60%, saving you lots of money.
Finally, the debt settlement company transfers your accumulated funds to your creditors.
The result?
You’ve paid an affordable monthly sum and eliminated your debt.
Way to go!
Now, you can start saving for your future.
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