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What is Debt Settlement?

 

 

Debt settlement is a process of settling debt with a creditor for less than what is owed.

With debt settlement, you stop paying your creditors and pay the debt settlement company instead. In the meantime, your accounts become delinquent. After some time, the company tries to negotiate a debt settlement offer with your creditors. They hope to settle for a lower amount than what you actually owe.

Although debt settlement sometimes works, the risk doesn’t always pay off. Your creditors aren’t obligated to accept a lower amount. Debt settlement offers no guarantees. If it fails, debt settlement can leave you in more financial trouble than before. Ultimately, you may pay a debt settlement agency hundreds or thousands of dollars & still owe the same amount to your creditors!

Before opting for debt settlement, call American Consumer Credit Counseling (ACCC). ACCC is a nonprofit dedicated to helping consumers take control of their finances. We offer free credit counseling sessions and low-cost debt management services. Learn more about debt settlement and ACCC’s programs by giving us a call today.

American Consumer Credit Counseling (ACCC) is one of the top non profit debt consolidation companies in the U.S., with more than 22 years' experience helping individuals and families consolidate credit card debt and improve their credit management skills. If you're wondering "How does debt consolidation work?" and "How can I consolidate my bills?", we can provide you with debt consolidation information to show you exactly how we can help you consolidate debt without having to borrow money or pay steep fees. If you're considering bankruptcy, we are also one of the approved credit counseling agencies for issuing a pre-bankruptcy certificate as well as providing the post-bankruptcy credit counseling course.

American Consumer Credit Counseling - Consolidate Debts - Better Business Bureau American Consumer Credit Counseling - Consolidate Debts - Mass Housing Approved National Industry Standards for Homeownership Education and Counseling American Consumer Credit Counseling - Consolidate Debts  - Council on Accreditation American Consumer Credit Counseling - Consolidate Debts  - NFCC Member