Debt settlement

What is debt settlement?

Debt settlement is designed to help individuals settle their debts for an amount lower than their outstanding balance. Through these programs, participants make regular monthly deposits into a dedicated savings account. As the account accumulates sufficient funds, negotiations with creditors take place for reduced settlements. This process is carried out for each account until all debts are satisfactorily cleared.

Compared to other options, debt settlement can offer a faster timeline to resolve your debts, often in as few as 24-48 months. However, it’s essential to note that debt settlement is not suitable for secured debts, such as mortgages, auto loans, or home equity loans.Secured debts are backed by collateral, making creditors often unwilling to settle for less.

If you are dealing with secured debts, it’s wise to explore alternative options like debt consolidation or debt counselling which may be more appropriate for your situation. At Remedy Finance, our dedicated team has successfully assisted thousands of individuals in regaining control of their finances. If debt settlement appears to be the right solution for you, we invite you to request a free consultation today. Take the first step towards financial freedom with Remedy Finance.

What types of debts can settled?

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