It’s a little-known fact that when you fall further and further behind on your payments, creditors would much rather agree to settle your debts than have you file bankruptcy and not get paid at all.

In exchange for an agreed-upon one-time payment, the creditor forgives the rest of your debt and starts reporting it to the credit bureaus as settled. Meanwhile, you’ll need to put money aside toward the settlement and stop making payments to your creditors. On your credit reports, the balances of settled debts will show $0. However, any previous history of delinquent payments or charge-offs will remain on your report.

Not surprisingly, creditors don’t like to advertise debt settlement. They also make it an extremely difficult solution to pursue. As a rule, creditors won’t negotiate with consumers who are current on their bills, often refusing to discuss settlements unless you’re at least three to six months behind. That means dodging collections calls while trying to save up the cash for a settlement.

A debt settlement company will be able to not only guide you through the process but also negotiate with creditors on your behalf to find a mutually agreeable settlement for less than the full amount you currently owe. To qualify for Anderson Chase Financial’s debt settlement program, you must have at least $7,500 USD of unsecured debt and be 18 years of age or older.

Wishing you the best,

Anderson Chase Financial