Debt Resolution

The debt resolution process of debt settlement shows you it is a great and very suiting debt relief option that best guides you seamlessly to financial freedom.

Partner with a debt resolution company that?s reputable and legitimate

Debt Solution

This is a middle-of-the-road form of debt resolution where a credit counseling agency works with your creditors to lower the interest rate on your recurring payments to a more affordable level, lumping all of your different bills into one single payment.

Debt Validation

While it doesn?t happen often, creditors can make mistakes. Along with a host of other culprits, there could also be foul play at work. For instance, a creditor might try to collect debts that you?ve already paid or send a bill to the wrong person

Credit Counseling

Sometimes, to take a look at your finances and help them make sense, you simply need an extra pair of eyes. A credit counselor can take an unbiased look at your income and expenses and notice areas that you can likely cut, as they help create a budget.

Debt Consolidation

Your stress could come from the pile of different bills on the counter that?s about to topple over. In that case, debt consolidation solutions can offer an ideal solution by combining all your unsecured debts into a single, comprehensive monthly payment.

A Debt Settlement Program

A financial agreement between a lender and a borrower, where the latter agrees to accept as full payment from the former a lesser amount than the full amount of an unsecured debt, is called a debt Settlement. A professional debt settlement company like Start New Financial is contracted by you to help you with this, and they handle everything for you with your prior approval always. Most creditors become open to debt settlement negotiations because you will stop making your payments to all of them for a number of months, per your settlement company?s advice and guidance, so your debt amount will increase and can become delinquent. Your settlement company also has you open up an escrow bank account for the sole purpose of accumulating sufficient funds to pay off your debts one by one, rather than you continuing to make monthly payments to your creditors. The one monthly payment you make into this escrow account is usually of a much smaller amount than the monthly payments you were making to your creditors, and you always retain full control of it. The minute your creditors know you?re in a debt settlement program with the backing of a professional settlement company, all harassing calls and interests will stop. The debt settlement company after several months gets your creditors to settle your unsecured debt in full for a reduced amount that is less than what you had owed them. Your settlement company requests your authorization to pay off one of your debts enrolled in your debt settlement program with the money from your escrow account, once you have accumulated enough funds in it to pay one of them off, because most creditors agree to this. The debt is paid as soon as you agree to it, and your settlement company gets a fee for that transaction. It?s a performance-based arrangement, so your debt settlement company only receives its reasonable fee when they help you eliminate a debt. You may have to pay taxes on the portion of debt that was forgiven if the amount is $600 or more. This settlement process will continue to repeat itself with every one of your creditors and your debt with them, you will continue to make the same monthly payment into your escrow account until you have paid off all the debts you enrolled into your debt settlement program and are completely debt-free! The more money you deposit into your escrow account, the quicker you become debt free, so you can increase the amount of your monthly deposits into it as much as you want and can afford. With debt settlement, your credit score gradually improves quicker than in a bankruptcy case and you save both money and time.

You pay off your debt for much less than what you owe and your credit score gradually improves quicker with a debt settlement program than with a bankruptcy case. In as little as 2-3 years you can become debt free. You don?t have to worry about interest and your total debt is reduced substantially. It helps you avoid asset liquidation or bankruptcy and saves you both money and time. The only monthly payment you must make into your escrow account is adjusted to an amount you can comfortably afford without having to deal with creditors or get into more debt by borrowing, and that one monthly deposit is usually of a lesser amount than what you were presently paying. All this provides you with more peace in your life by helping you organize your finances better.

The disadvantages of a debt settlement program are that your creditor needs to agree to the debt settlement, it can take years to restore your credit rating after it is impacted by it.

A Debt Settlement Program?s Advantages:

You pay off your debt for much less than what you owe and your credit score gradually improves quicker with a debt settlement program than with a bankruptcy case. In as little as 2-3 years you can become debt free. You don?t have to worry about interest and your total debt is reduced substantially. It helps you avoid asset liquidation or bankruptcy and saves you both money and time. The only monthly payment you must make into your escrow account is adjusted to an amount you can comfortably afford without having to deal with creditors or get into more debt by borrowing, and that one monthly deposit is usually of a lesser amount than what you were presently paying. All this provides you with more peace in your life by helping you organize your finances better.

A Debt Settlement Program?s Disadvantages:

The disadvantages of a debt settlement program are that your creditor needs to agree to the debt settlement, it can take years to restore your credit rating after it is impacted by it.

SIMPLER WORDS TO DESCRIBE DEBT SETTLEMENT

The process where an agreement is reached between the debtor and creditor(s) to pay off the loaned amounts as paid in full for less than the actual amount that is owed, is what debt settlement is. For a number of months you stop making payments to your creditors and meanwhile you are depositing that money in an escrow account that, with the guidance of your debt settlement company, you open up for this purpose. The monthly deposits you make into your escrow account are of a lesser, more comfortable amount than what you were paying to your creditors every month and you are always in full control of it. The creditor agrees to settle the debt once they see that the debtor?s accounts have gone into default. Once you join the debt settlement program, all interest on your debt stops. As you are depositing monthly into your escrow account to accumulate enough funds in it for your settlement company to negotiate with your creditors to pay off your debts as full payment to them for far less than the original debt amount, your debt amount will be increasing. Your debt settlement company doesn?t do anything without your prior approval and makes all this happen, guiding you through the entire debt settlement process, managing everything, advising you, and negotiating with your debtors. They save you money and time by getting your creditors to settle your debt in full for an amount that?s much smaller, and till you?re completely free of all the unsecured debt enrolled in your debt settlement program, they never forsake you. Your settlement company settles an enrolled debt once there?s enough money in your escrow account to do so, and the process continues and repeats itself until you?re completely free of all the unsecured debt enrolled in your program. Only when they finish settling a debt for you, does the settlement company get its reasonable fee from every debt they settle for you, and they cease any calls to you from creditors that are harassment and collection calls.

Debt management or debt consolidation are different from debt settlement and these debt relief strategies should not be confused with one another. At the end of your program you will lead a debt-free financial life of peace, with the proper guidance from a great debt settlement company like Start New Financial.

The Process of Debt Settlement

To negotiate with your creditor(s) to, for a small portion of what you owe, completely wipe out your debt, is the main objective of a debt settlement program. The creditors almost always settle for a lesser amount than actually owed and are also willing to waive penalties in order to come to an agreement and settle for good.
Most debtors don?t possess the negotiation skills, expertise, or the emotional fortitude and experience needed to negotiate most favorably with their creditors. To help you reach favorable agreements with your creditors that are the most beneficial to you, there are professional debt relief companies like Start New Financial available, and they see you through the entire process that leads you to finding financial freedom and being debt free. Debt relief companies work on your behalf to get your creditors to accept as full payment a lesser amount than you actually owed or borrowed. With your settlement company?s assistance, harassing calls and interests are wiped out. Only your unsecured debts can be enrolled in your debt settlement program. Your debt settlement company only gets paid a fee every time they settle a debt for you with the money from your escrow account with your prior written authorization, and doesn?t charge you any upfront fees. Your debt settlement negotiates the best settlement with your creditors that is the most beneficial one to you, every time you have enough funds in your escrow account. Until you are completely free of all the unsecured debts enrolled in your debt settlement program, this process will continue to repeat itself. And every time they settle a debt for you, the debt settlement company gets its modest fee. Your debt settlement process works in that manner. Your debt settlement company ends collection and creditor calls and handles absolutely everything for you.

Please bear in mind that it is only with unsecured debt and certain loan types, such as credit card debt, that debt settlement works with. Debt settlement does not apply to student loans nor any type of secured debt such as mortgages. It is more commonly used for credit card debt and similar loans.

Identification of the Process or Steps in a Debt Settlement Program

The first step will involve discussing your unique financial situation once you have settled on a particular debt relief company to help you settle your debts. This is very important in order to determine where you stand and to calculate how much you can afford to pay per month as a solo monthly payment. You will then be able to decide how you will approach the debt settlement process and proceed with it.

A lump sum payment is one approach. You will have to save or possess an amount that will entirely pay off the debt settlement amount. A new term settlement that provides you with a new payment period with a lower monthly amount is the second approach in this situation. You do this by opening an escrow account where you will be depositing that lower monthly payment to accumulate the funds necessary to settle the debts enrolled in your program, generally settled one at a time.

You will have to set aside an agreed amount to fund the settlement amount that will be offered to the creditor, when all your plans have been laid out. The amount you deposit into your escrow account each month is based on your basic necessity expenses, income and debt balance.

At this point your creditor is still not privy of your intentions of going for a debt settlement and thus defaulting on your payments in the interim. Your creditor(s) can attempt to harass you once you are not making your usual payments to them. You should always direct them to your debt settlement company and maintain your calm, and continue to make your monthly deposits into your FDIC-insured escrow account that your debt relief experts directed you to open, and which you control completely.

Your debt relief company will get in touch with your creditor(s) to negotiate on your behalf as you are building up your balance amount. Your ceditor(s) will be convinced by them that you are experiencing hardships that don?t allow you to pay the full amount of the debts, and will get them to agree to accept less money as full payment to wipe out the debt.

It is around 90 to 180 days after you have stopped paying your creditor(s) any money that this negotiation with them generally takes place. The ideal time for negotiations is this because, by then, your creditor(s) should have ?charged off? your debt ? meaning, they have written you off as a bad debt and taken a tax break, which helps your negotiation plans.

Based on what was presented to them, the creditor likely will also want to conduct their own investigation, as a detailed explanation of the circumstances is what they?ll want. Checking your payment behavior with your other investors and creditors can be included in this. Your debt relief company representing you will notify you and request your approval to negotiate with your creditor, once your creditor realizes there is no better option than to settle with you for a lesser amount. So that the settlement can take place, your debt relief company will send you a written settlement offer for you to approve in writing.

The funds from your escrow account you have been accumulating for this purpose will be used to settle that enrolled debt if there?s already enough money in it for it, after everything is agreed upon and in order.

This debt settlement process will be repeated with every one of your debts enrolled into your debt settlement program, until such time as you have completely paid them all off and are debt-free, completely satisfied and in glorious peace.

Start New Financial is a world-class debt relief company that is the gold standard in helping negotiate the most favorable settlements with your creditors that benefit you the most. We challenge you to take that important first bold step in settling your unmanageable debts that have been overwhelming you, by CALLING US TODAY at (800) 320-9083. Our in-depth phone consultation is FREE. Let?s remove your crippling burden of debt so you can once again see financial freedom and can be empowered in full control and peace.

DIY DEBT SETTLEMENT

Without the valuable assistance of a professional debt relief company, many debtors try to arrange debt settlement programs by themselves. Having confidence in your ability to negotiate with your creditors is key to a DIY debt settlement. To go through the process negotiating a DIY debt settlement takes some savvy and determination. If you believe you can, then you probably can. Those whose confidence is wavering are not apt to tackle a DIY debt settlement. Debtors try to negotiate directly with their creditors in an effort to settle their delinquent debts for one reduced lump-sum payment that is less than what they actually owe. The debts must be delinquent in order for this to work best. For debt settlement to be a good option, payments should be at least 90 days behind, but the longer they are delinquent, the better it is. Your credit is probably wrecked by delinquent marks from your missed payments by the time your creditors consider you eligible to settle your debt. In a do-it-yourself debt settlement, there is never a guarantee you?ll succeed in securing a deal with your creditors, and your credit rating is lowered because you must continue to miss payments while you?re negotiating with your creditors. To back up any settlement agreement, you will need to have the cash. Payment plans are accepted by some creditors, but most will want to settle the debt with a lump-sum payment. How your debt settlement will be reported on your credit reports is also part of the negotiations, besides how much you will end up paying. When debts are settled, it doesn?t look great on credit reports that they are generally marked as ?Settled? or ?Paid Settled?. In order to minimize the damage, it?s best to try to get your creditor to mark the settled account as ?Paid as Agreed?. Other downsides are that you end up with a costly payment arrangement or a lawsuit, without even settling your debt. You may pay more to the creditors as well. Emotions can get in the way if you don?t have the proper structure in place. To set aside the money to pay your creditors requires discipline. If you are sued, you may not know how to maneuver yourself legally, costing you more money, time and lots of stress.

The workings of debt settlement

Debt settlement companies are also known as debt liquidation or debt Relief companies. To negotiate a better payment plan to wipe out a debt for a reduced amount, they contact creditors on your behalf. The main goal of your debt settlement company is to reduce your current debt amount to the lowest possible terms, in both monthly payment amount of the deposits you will have to make into your escrow account and in debt amount. It normally is a modest percentage that these companies often charge as their service fee is of the amount you save on every debt they successfully settle for you. They do not charge anything upfront and are strictly performance-based.

The settlement company will negotiate a reduced payment with your creditors for that is less than the amount you owe. Instead of you continuing to make any more payments to your creditors, before any negotiations can take place, your debt settlement company requires you to make monthly deposits into an escrow account. This account is where you?ll accumulate the funds that will ultimately be used as a lump sum payment to settle every unsecured debt registered in your debt settlement program one debt at a time till you?re debt free, and is an account that is all yours, opened and fully controlled always by you.

Your settlement company negotiates the most reduced settlement they can obtain for you from one of your creditors every time you have sufficient funds in your escrow account to settle a debt. And your settlement company presents to you the most favorable agreement for your written approval, as soon as they reach such (an agreement) with your creditor. Your settlement company liquidates that debt for you with money from your escrow account, as soon as you approve the settlement. It is when your settlement company starts getting paid for their services to you, as they receive a modest percentage of every settled amount as their fees from every debt they successfully settle for you. Your debt settlement company will have saved you money because that debt will be completely wiped out and paid in full for a negotiated amount that is less than your original, actual debt amount. This process is repeated with every one of your debts enrolled in your debt settlement program until you’re completely debt free from all the unsecured debt. Oh what a relief!
A successful debt settlement is one that empowers a debtor to forever disengage herself/himself completely from their debts without having to pay the full amount that was owed on the debts enrolled in your debt settlement program. One must bear in mind that it is not always a given that a debt settlement company will be able to convince every creditor to come to an agreement to settle your debt to them because some creditors are tougher to work with than others. But for the most part, the debt settlement company can and they will! A world-class debt relief company like Start New Financial will save you as much money as possible and make you debt free as soon as possible too, because they?ll always be in your corner, loyally fighting tooth and nail for what?s most favorable to you.

Benefits of debt settlement

A successful debt settlement process has many different advantages. The complete process that leads to a successful debt settlement should be known by you. Start New Financial has listed these advantages below.

  1. That you will save money by paying less than you actually borrowed or owed is a major advantage in debt settlement. Your debts will soon be reduced to a lesser amount for payment with the help of an expert debt negotiator like Start New Financial, making it that much easier and sweeter to pay back. Since all interests and fees are on pause, your worries are a memory and you become more impassioned and enthusiastic about paying back your debt because now it?s turned into a more appealing, reduced amount you?re only paying, that?s saving you so much. All along you had been wishing for just that. Well, it?s here, because Start New Financial made it possible, made it happen. You now can finally have peace and relax.
  2. The first step toward gaining financial freedom is finding the right debt negotiating specialist to represent you during the debt settlement process. There is no telling how far your creditors will go to harass for payment once they stop receiving payments from you. The right choice in preparing for difficult times is having professional debt negotiators guiding you and offering their personal assessment into your debt settlement. The key to obtaining financial freedom is having a debt settlement expert act on your behalf to settle your debts. Professional instructions and guidance have always worked.

  3. The discipline of saving and repaying your debt will be a plus that gives you the advantages to plan your financial future, once you?re enrolled into a dedicated and proper debt settlement program.

  4. Another advantage is that debt settlement doesn?t appear on your credit score in the way filing for bankruptcy would. Your credit score takes a tremendous sting when you file for bankruptcy, one that will remain there for about seven years. To pay your debts as quickly as possible and for less money is the objective of this whole process.

It is not entirely smooth sailing when you get into a debt settlement process. Until all your debts are settled and finalized, you will deal with negative credit reviews, once you choose the right debt settlement plan. It is a brighter and healthier financial future for you without so worrisome a lifestyle, when you find the right expert on debt settlement because you will have peace.

Our world-class program is available with the best negotiators that are dedicated to reducing your debt to the lowest amount possible. Our elite program has established relationships with a rich portfolio of collection agencies and creditors. We virtually establish more and more such relationships by the day. So you can get out of debt quicker and for less than if you did it yourself, Start New Financial knows how to represent you to your complete satisfaction. No stress and no hassles – just hope, confidence, peace and tranquility. People call us to say they are going to do it themselves, only to backtrack and sign up with our program later on. Not getting started with us any earlier is the only regret they ever have.

YOUR DEBT WILL JUST DUPLICATE WITH INTEREST WHEN YOU MAKE ONLY THE MINIMUM MONTHLY PAYMENT

Making just your minimum payments is all you continue to do. Particularly on credit card debt and without any structure in place, you only make minimum payments on your debts in this scenario. When you will be debt free is a mystery to you. You?ll see that some accounts will take 27 years to pay back when you look at your bank statements, due to the high interest rates and perhaps the amount of debt itself.

DISADVANTAGE

You may end up paying 300 to 400 percent (or perhaps more!) of what you initially borrowed and owed. You see no end in sight and even your minimum payments might no longer be affordable to you. You will have to pay carried-over interest that has greatly accumulated even if you pay back the amount of the loan borrowed.

ADVANTAGE

Your credit history will remain positive as long as you make the minimum interest payments.

FOR A FREE ANALYTICAL REVIEW, CALL US

You may not be able to retire when you want to because of the high interest rates on your loans and credit cards. You may have been denied when you recently called the credit card company to implore them that you?re a senior citizen who needs them to lower their interest rate so you can afford your much-needed prescription drugs. Start New Financial can help! Our team of expert negotiators are dedicated to reducing your debt to the lowest amount possible. We have established relationships with collection agencies and creditors and each day we are virtually establishing more. We know how to rid you of your debt quicker, and for less than if you only made minimum payments, in complete representation of you.

CALL START NEW FINANCIAL TODAY TO SPEAK WITH A CERTIFIED DEBT SPECIALIST

Start New Financial is a world-class financial leader in the specialization of all kinds of debts and the gold standard in solving consumers? debt problems. We gladly help you start your most important journey towards financial freedom. Call TODAY!

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