Debt Settlement

Start New Financial shows you the debt settlement process so you know the right debt relief option that best suits you and guides you to financial freedom.

Learn how you can have peace and live an easier life through effective?debt settlement programs.

0 Upfront Fees

Fees are based on your initial balance. No fees until your debt is settled. Have peace of mind and save money, relieving your debt quicker and for less. You always retain full veto rights over everything and full control over your dedicated account.

1 Lower Monthly Payment

You get relief from overwhelming unsecured debts of all types and say goodbye to your bills in less time with debt settlement. You can pay your debt over time with just 1 lower monthly payment that eliminates it at a fraction of the balance.

Avoid Bankruptcy

You avoid bankruptcy and legal action as your phone also stops ringing. You won’t have to sell your property nor deal with any court. Start New Financial handles everything for you, all the negotiations and paperwork. It is easy on your credit score, with a superior success rate.

A Debt-free Date

This structured plan provides you with a debt-free date where you?ll know when you will have financial freedom by finally becoming debt-free. Be prepared to be surprised by how quick and for so much less you will be debt-free.


Debt Settlement is a financial agreement between a borrower and a lender in which the former pays back less than the full amount of an unsecured debt and the latter agrees to accept this as full payment. You contract a professional debt settlement company like Start New Financial to help you with this and they handle everything for you, and everything they do is always with your prior approval. The amount of debt you owe increases because you will stop making your payments to all your creditors for a number of months per your settlement company?s advice and guidance, so it can become delinquent, which makes most creditors open to debt settlement negotiations. Instead of continuing to make monthly payments to your creditors, 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. You always retain full control of this escrow account, and the one monthly payment you make into it is usually of a much smaller amount than the monthly payments you were making to your creditors. And all interests and harassing calls cease the minute your creditors know you?re in a debt settlement program with the backing of a professional settlement company. After several months, the debt settlement company gets your creditors to settle your unsecured debt in full for an amount that is smaller than what you originally owed them. Most creditors agree to this, so once you have accumulated enough funds in your escrow account to pay off one of your debts registered in your debt settlement program, your settlement company requests your authorization to pay off one of your debts with that money. Upon your approval, the debt is paid and your settlement company gets a fee for that transaction and the tax people forgive any taxes you owed on the amount of that debt you pay off. As for the portion of debt that was forgiven, you may have to pay taxes on it if the amount is $600 or more. This process will continue to repeat itself, you will continue to make the same monthly payment into your escrow account, until you have paid off all the debts you registered into your debt settlement program and you are completely free of debt! You are also free to increase the amount of your monthly deposits into your escrow account, as the more money you deposit into it the quicker you become debt free. Debt settlement saves you both time and money and your credit score gradually improves quicker than in a bankruptcy case.

Advantages of a Debt Settlement Program:

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

Disadvantages of the Debt Settlement Program

The disadvantage of a debt settlement process is that your credit rating will be impacted and your creditor needs to agree to the debt settlement. It can take years to restore your credit.


Start New Financial?s debt relief programs are designed to help people regain control of their out-of-control debts and finances while substantially reducing their unsecured debts so they can have peace and save lots of money as they become debt-free ASAP for less than they originally owed.


Debt settlement is the process where an agreement is reached between the creditor(s) and debtor to pay off the loaned amounts in full for less than the actual amount that is owed. You stop making payments to your creditors for a number of months and in the interim you are depositing that money in an escrow account that you open up for this purpose with the guidance of your debt settlement company. You are in full control of this escrow account at all times and the monthly deposits you make into it are of a lesser, more comfortable amount than what you were paying to your creditors every month. Once the creditor sees that the debtor?s accounts have gone into default, it is then that they agree to settle the debt. All interest on your debt stops once you join the program and any taxes owed on the amount you settle are forgiven. Your debt amount will increase 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 settlement company makes all this happen and doesn?t do anything without your prior approval, guiding you through the entire debt settlement process, advising you, managing everything, and negotiating with your debtors. They get your creditors to settle your debt in full for an amount that?s much smaller, thus saving you time and money, and never forsake you till you?re completely free of all the unsecured debt enrolled in your debt settlement program. Once there?s enough money in your escrow account to settle a debt, your settlement company settles it and the process continues and repeats itself till you?re completely free of all the unsecured debt registered in your program. The settlement company gets its fee from every debt they settle for you, and they cease any collection and harassment calls to you from creditors.
On a final note, debt settlement is different from debt consolidation or debt management and these concepts should not be confused with each other. With the proper guidance from a great debt settlement company like Start New Financial, at the end of the program you will lead a debt-free financial life of peace.

The Debt Settlement Process

The main objective of a debt settlement program is to negotiate with your creditor(s) to completely wipe out your debt for a small portion of what you owe. Almost always, the creditors settle for a lesser amount than actually owed and will even waive penalties in order to come to an agreement and settle for good, once and for all.

Most debtors don?t possess the negotiation skills, experience, or the expertise and emotional fortitude needed to negotiate with their creditors. Professional debt relief companies like Start New Financial are available to help you reach favorable agreements with your creditors that are the most beneficial to you, and to see you through the entire process that leads you to being debt free. Working on your behalf, debt relief companies get your creditors to accept as full payment a lesser amount than you actually borrowed or owed. Interests, taxes, and harassing calls are wiped out with your settlement company?s assistance. In your debt settlement program only your unsecured debts are enrolled in it. Your debt settlement company doesn?t charge you any upfront fees and 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. Every time you have enough funds in your escrow account, your debt settlement negotiates the best settlement with the creditors and settles the best one most beneficial to you. This process repeats itself until you are completely free of all the unsecured debts enrolled in your debt settlement program. And the debt settlement company gets a fee every time they settle a debt for you. This is how the debt settlement process works. Your debt settlement company handles everything for you, including creditor calls and ending collection calls.

Please keep in mind that debt settlement only works with unsecured debt and certain loan types, such as credit card debt. Debt settlement is not applicable to mortgages, student loans, or any type of secured debt. It is usually for credit card debt and similar loans.

Identifying the Steps or Process in a Debt Settlement Program

Once you have settled on a particular debt relief company to help you settle your debts, the first step will involve discussing your unique financial situation. This obviously is a must so you can all know where you stand and to determine how much you can afford to pay per month. Then that?s when you can decide how you will approach the debt settlement process and proceed with it.

One approach involves a lump sum payment. You will need to have or save an amount that can sufficiently pay off the debt entirely. The second approach in this situation is a new term settlement that provides you with a new payment period with a lower monthly amount. This is done by opening an escrow account of yours in which to deposit that lower monthly payment to accumulate the funds to settle the debts in your program, generally settled one at a time.

When you have been able to lay down all your plans, you will have to set aside an agreed amount to fund the settlement amount that will be offered to the creditor. The monthly amount you deposit into your escrow account is based on your debt balance, income and basic necessity expenses.

Remember that at this point the creditor is still unaware of your intentions of defaulting on your payments because you?re aiming for debt settlement. Once you are not making your usual payments to them, your creditor(s) can attempt to harass you. You should maintain your calm and always direct them to your debt settlement company, and continue to make your monthly deposits into your FDIC-insured escrow account that your debt relief experts directed you to open.

As you are building up your balance amount, the debt relief company will get in touch with your creditor to negotiate on your behalf. They will convince them that you are unable to pay the full amount and will get them to agree to accept less money as full payment to wipe out the debt.

This negotiation with your creditor generally takes place around 90 to 180 days after you have stopped paying them any money. This is the ideal time for negotiations because, by then, your creditor should have ?charged off? your debt ? meaning, they have taken a tax break by having written you off as a ?bad debt?, which benefits your negotiation plans.

The creditor likely will also want to conduct their own investigation based on what was presented to them, as they want a detailed explanation of the circumstances. This can include checking your payment behavior with your other creditors and investors. Once they realize there is no better option than to settle with you for the proposed amount, your debt relief company representing you will notify you and request your approval to negotiate with your creditor. They will send you a written ?settlement offer? for you to approve in writing so the settlement can take place.

When everything is agreed upon and in order, 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.

This debt settlement process will be repeated until such time as you have completely paid off all your unsecured debts registered in your debt settlement program and you are debt free, satisfied and in peace.

Start New Financial is a world-class debt relief company that is the gold standard in aiding you in the negotiations of beneficial settlements with your creditors. We encourage you to take that bold first step in settling your financial obligations by calling us TODAY at (800) 320-9083. Our consultation is free. Let us help you remove your burden of debt and gain financial freedom so once again you can be in control and empowered.


Many debtors try to arrange debt settlement programs by themselves without the valuable assistance of a professional debt relief company. You need to have confidence in your ability to negotiate because it is key to a DIY debt settlement. It takes some determination and savvy to go through the process negotiating a DIY debt settlement. You probably can if you believe you can. DIY debt settlement is not ideal for those whose confidence is wavering. In an effort to settle their delinquent debts for one reduced lump-sum payment that is less than what they actually owe, debtors try to negotiate directly with their creditors. In order for this to work best, the debts must be delinquent. Payments should be at least 90 days behind for debt settlement to be a good option, but the longer they are delinquent, the more feasible it is. By the time your creditors consider you eligible to settle your debt, your credit is probably wrecked by delinquent marks from your missed payments. There is no guarantee you?ll succeed in securing a deal with your creditors in a do-it-yourself debt settlement, and your credit rating is damaged because you must continue to miss payments while you?re negotiating with your creditors. You will need to have the cash to back up any settlement agreement. Some creditors will accept payment plans, but most will want a lump-sum payment in order to settle the debt. You?re also negotiating how your debt settlement will be reported on your credit reports, besides how much you can pay. It doesn?t look great on credit reports that when debts are settled they are generally marked as ?Settled? or ?Paid Settled?. That?s why it?s best to try to get your creditor to mark the settled account as ?Paid as Agreed? in order to minimize the damage. Other downsides are that you may not settle your debt and end up with a costly payment arrangement or even a lawsuit. You may pay more to the creditors as well. If you don?t have the proper structure in place, emotions can get in the way. Then there is the discipline required to set aside the money to pay your creditors. You may not know how to maneuver yourself legally if you are sued, costing you more time, money and lots of stress.

How debt settlement works

Debt Relief or debt liquidation companies are also known as debt settlement companies. They contact creditors on your behalf to negotiate a better payment plan to wipe out a debt for a reduced amount. Your debt settlement company?s main goal is to reduce your current debt amount to the lowest possible terms, in both debt amount and monthly payment amount of the deposits you will have to make into your escrow account. The service fee these companies normally charge is often a modest percentage of the amount you save on every debt they successfully settle for you.

The settlement company will negotiate with your creditors for a reduced lump-sum payment that?s less than the amount you owe. Before any negotiations can take place, your debt settlement company requires you to make monthly deposits into an escrow account in lieu of continuing to make any more payments to your creditors. This account is yours, opened and fully controlled always by you, and 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.

Every time you have sufficient funds in your escrow account to settle a debt, your settlement company negotiates the most reduced settlement they can obtain for you from one of your creditors, and once they reach the most favorable agreement for you, your settlement company presents it to you for your written approval. As soon as you approve the settlement, your settlement company liquidates that debt for you with money from your escrow account. That?s when your settlement company starts getting paid from you for their services, as they take a modest percentage of every settled amount as their fees from every debt they successfully settle for you. That debt will be paid in full and completely wiped out, and your debt settlement company will have saved you money because it will have been done for a negotiated amount that is less than your original, actual debt amount. This process is repeated till you’re completely debt free from all the unsecured debt registered in your debt settlement program. Oh what a relief!

A successful debt settlement is one that empowers a debtor to forever disengage herself/himself completely from that debt without paying the full amount that was owed on that debt. Some creditors are easier to work with than others, so one must keep in mind that it is not always 100% certain that a debt settlement company will be able to convince every creditor to come to an agreement to settle the debt you have with them, but for the most part, they can and they will! A debt relief company like Start New Financial will always be in your corner, loyally fighting tooth and nail for what?s more favorable to you, to save you as much money as possible and make you debt free as soon as possible too.

Advantages of debt settlement

There are many different advantages to the process of a successful debt settlement. You should know the complete process that leads to a successful debt settlement. Start New Financial has listed the major advantages below.

  1. The major advantage of debt settlement is that you will save money by paying less than you actually owe or borrowed. With the help of an expert debt negotiator like Start New Financial, your debts will soon be reduced to a lesser amount for payment, making it that much easier to pay back. It rids you of worries as the interests and taxes are on pause and makes you impassioned and enthusiastic about paying it back because the reduced amount is now more appealing since you know that you?re saving so much. It is all you had been wishing for all along. Now you can finally relax and have peace.

2. Finding the right debt negotiating specialist to represent you during the debt settlement process is the first step toward gaining financial freedom. Once your creditors stop receiving payments from you, there is no telling how far they will go to harass for payment. Having professional debt negotiators guiding and offering their personal assessment into your debt settlement is the right choice in preparing for difficult times. Guidance and instructions have always worked, and having a debt settlement expert act on your behalf to settle your debts is the key to obtaining financial freedom.

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

4. One other major advantage of debt settlement is that it doesn?t appear on your credit score in a manner such as filing for bankruptcy. Filing for bankruptcy gives your credit score a tremendous sting that will remain there for about seven years. The objective of this whole process is to pay your debts for less and as quickly as possible.

The entire debt settlement process is not all smooth sailing. Once you choose the right debt settlement plan, you will deal with negative credit reviews until all your debts are settled and finalized. Finding the right expert on debt settlement means a brighter and healthier financial future and a not so worrisome lifestyle because you will have peace.

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


You continue just making minimum payments. In this scenario, you make your minimum payments on debts without any structure in place – particularly on credit card debt. You do not know when you will be debt free. When you look at your bank statements, you?ll see that some accounts will take 27 years to pay back, due to the high interest rates and perhaps the amount of debt itself.

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

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


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


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


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

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