Although different creditors have different settlement guidelines, you can typically expect to pay around 50 cents on the dollar for your debts, including all fees.
Read more →It’s probably not realistic to expect to settle your debts for pennies on the dollar. You’re probably looking more at dimes and quarters. In other words, a more realistic settlement expectation would be somewhere between 40 and 60 cents on the dollar.
Read more →Many of the TV commercials out there talk about settling debts for pennies on the dollar, and they probably are unrealistic and too good to be true. Can debts be settled for 7, 8, 10 cents on the dollar? Yes, in some cases, but more than likely
Read more →Entering a debt settlement program cannot stop a lawsuit, and that’s one of its disadvantages. If you are facing one or multiple lawsuits, bankruptcy would probably be a better option to look at. That being said, if you enter a debt settlement program with a qualified attorney
Read more →Your debt settlement attorney will work with you to decide which debts to settle first. You know that things have gotten serious when you’re getting letters from an in-state collection attorney, so you’re typically going to want to get that debt out of the way first. The
Read more →In my opinion, it would not be advisable to stretch a pay-off over several years. If you are going to reach a settlement with your creditors, you want the process to take a year or less. I would not recommend any settlement being stretched out over more
Read more →If you receive a debt settlement offer from a credit card company, you may certainly take that offer. We recommend that you get the offer in writing. We also recommend that if you do accept the offer and mail the company a check, you should make a
Read more →There are some definite downsides to lengthening the debt negotiation process. The first is that a creditor may sue you at any point during the period of a debt negotiation plan or debt settlement program. The second is that interest and penalties continue to accrue – increasing
Read more →There’s no reason that you would want to extend the negotiating process, because until the debt settlement is complete, creditors will continue to pursue you to collect on the debt, interest and penalties will continue to accrue, and the likelihood of being sued increases over time. So
Read more →Being in a debt settlement program does not stop interest and late fees from accruing on your accounts, which is why it’s critical that you get your debts settled as quickly as possible.
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