Quickly Eliminate Significant Debt Through Debt Settlement
For those seeking fast debt relief without bankruptcy, debt settlement provides a way out. This type of debt relief provides an alternative to bankruptcy and involves negotiating with creditors so that they will accept less than the total amount they are owed to settle the debt. Typically, a person who chooses this type of debt relief can expect to pay a settlement amount somewhere in the neighborhood of 50 to 60 cents on the dollar. Debt settlement works best for unsecured debt, such as credit card debt and lines of credit, and can usually be accomplished within 18 months or less.
Am I a Good Candidate for Debt Settlement?
You are an optimal candidate for debt settlement with Trident Debt Solutions if:
- You have more than $30,000 in unsecured debt; and
- You have a lump sum of cash available to pay off creditors for 50–60 cents on the dollar; or
- You can reasonably expect to raise approximately 50–60 cents on the dollar, within 18 months or less, through monthly contributions of at least 3% of your debt amount, lump-sum payments, or some combination of the two.
What Is Involved in a Debt Settlement Program?
First, we set up a trust account for you. Instead of continuing to make payments to your creditors, you then fund this account with either a lump sum of money or monthly payments of at least 3% of your total debt. We use these funds as leverage for negotiating with your creditors, and it is from this guaranteed, secure account that the settlements are distributed.
With the funds in your trust account as leverage, we negotiate with your creditors to get them to accept less than the total amount they are owed. When it comes to large amounts of debt, creditors realize that it can be to their advantage to get less money now than to hold out for the full amount, which might never get paid. .
Once we have reached a settlement agreement with each of your creditors, we use the funds in your trust account to pay the agreed-upon amounts in a lump sum. The sooner you can raise a lump-sum amount with which to pay off your creditors, the better settlement we will be able to negotiate.
How Much Does Debt Settlement Cost?
Including all fees, debt settlement typically costs about 50 to 60 cents for every dollar you owe. Unlike most debt settlement firms, Trident Debt Solutions calculates fees at 25% of the money we save you through debt negotiation, rather than as a percentage of your total debt amount. Furthermore, we guarantee our results: If we don’t save you more than 30% of your total unsecured debt, we’ll charge you nothing.