Bankruptcy promises freedom from your debt, but it comes at a high cost. The economic impact and stigma of a debt discharge can be long-lasting and take years to overcome. It’s possible to rebound from bankruptcy, but it requires patience and a solid strategy to rebuild your financial health.
Perhaps you are considering a debt settlement program or could be in the process of completing one. You might be wondering what life will be like after you finally pay off all your enrolled debts.
Data from our recently graduated clients shows that score recovery after debt settlement is possible and a natural part of the debt resolution process.
Before taking on a debt of any kind, it’s a good idea to know whether it’s considered good debt or bad debt. Not all debt affects your financial health equally. Certain types are considered good debt while others are bad.
Do you aspire to a debt-free lifestyle? These debt-free influencers did, but to get there, they had to adopt new habits and tackle their debt for good. In addition to sharing the amount and type they’ve overcome, they gave us their top tips for saving money and paying down student loans, credit card debt, personal loans and more. Follow their stories and learn from their experiences so you too can conquer your debt and move toward a debt-free lifestyle.
Feeling defeated by 2020? Perhaps you are hoping that 2021 will bring you a brighter financial future. The symbolism of passing from one year to the next invites us to enact changes in our lives and can be a great opportunity to jump-start fresh goals. If ditching debt is something you’d like to address in the new year, consider following this advice.
Calls from your creditors may increase when you begin a debt settlement journey because they take notice when you change your payment habits. In most cases, it’s best to let unknown calls go to voicemail and block calls during debt settlement that may be related to your enrolled debt.
When you enroll your debt with a debt settlement program, you’ll begin saving money into a Dedicated Account every month. These funds are used to pay your creditors and cover your debt settlement program fees. Our fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25%. Including fees, debt settlement could reduce your total amount paid by 60% or more when compared to paying off debt by making minimum…
Delaying payment to your creditors is an essential step in your journey toward debt settlement. When you decide to delay payment on your enrolled debts, it is normal for your credit score to drop. This pause in payment gives us the leverage we need to negotiate your settlement and puts you back in control of your debt.
When you begin a debt settlement journey, you may be surprised to discover that an essential part of the program involves delaying payment to your creditors. Instead of making monthly payments on each of your enrolled debts, you make one monthly deposit into a Dedicated Account that will be used to pay your debt settlements throughout the program.