Debt Settlement Online

Debt Settlement And Negotiation
Choosing Reliable Online Debt Settlement Companies

Go Straight To The List Of The
Recommended Debt Settlement Companies

UK Residents Go Straight To The IVA Page (UK Equivalent of Debt Settlement)

This page is about online Debt Settlement, which is also known as debt negotiation. This should not be confused with Debt Management/Consolidation, which is covered in a separate section. Whereas debt management is about finding a way to repay everything you owe, Debt Settlement involves only repaying a significantly reduced proportion of the original amount of your debt. People normally opt for debt settlement when they do not have enough spare income for a debt management plan.

Please Note: Debt settlement is a practice that is widespread in the US, but it not really found in the UK because there is a better alternative called an IVA or Individual Voluntary Arrangement. UK citizens interested in writing off a large proportion of their debts should refer to the IVA page.

Debt settlement is a service provided by specialist companies whose experienced advisors negotiate with your creditors to pay off your debts at reduced rates. They usually do this by agreeing to wipe out substantial portions of your debts in exchange for paying the remainder in a lump sum. Reductions in the overall debts are frequently between 40% and 60%.

These agreements may take varying times to negotiate with different creditors, and you meanwhile agree to pay an affordable monthly payment to the debt management company or into a separate account. While the negotiation process is taking place, your monthly payments are being saved up to use to pay off creditors when terms are agreed. The money will normally be kept in a trust account for this purpose.

The companies who offer debt settlement online charge for their services, and this is usually a proportion of the debt that they manage to get wiped out. Provided that you select a good company who negotiate well on your behalf, the benefits of the debt reduction should well outweigh the fees involved.

Who Is Debt Settlement For?

Debt settlement is a process designed to help people in real hardship. This means that to be suitable to enter into a debt settlement program you need to be unable to afford to repay the debts that you have. People experiencing hardship have often lost their jobs, been through a divorce or suffered some change in their circumstances which has led them to consider alternatives such as bankruptcy. These are the circumstances that debt settlement is designed to address.

If you have enough money to keep up with the repayments due on your debts, you do not need debt settlement and are unlikely to be accepted by any reputable company. It is only a viable option if you do not have enough money coming in to keep up with payments due now or into the future.

Benefits of Debt Settlement Online

You only have one payment to worry about instead of lots of separate bills to keep track of.

Your overall debt is reduced, making it possible to be completely debt free within an agreed time (usually between one and four years).

You can avoid filing for bankruptcy as your debts become more affordable due to having the overall amount of your debt drastically reduced.

The debt settlement company should contact your creditors to explain the situation so they stop harassing you for money.

Being seen to be taking part in a debt settlement program to deal with your debts may help persuade creditors that you are serious about paying them off, and help reduce the chances that they may try to sue you for the money.

The settlement negotiation may well include the freezing, reduction or elimination of any late payment penalty charges or interest.

Your creditors at least get some of the money they are owed.

Debt settlement negotiation is an extremely common solution for credit card debt, but can be used for other unsecured debts such as store cards, personal loans, bank overdrafts, catalogue debts, etc.

Debt Settlement cannot be used for 'secured' debts (such as mortgages), or for council tax, alimony, child support, tax arrears, council tax, etc.

Recommendations For Reputable and Established Debt Settlement Online Companies

It is important to be aware that there are many companies out there offering debt settlement online services, but they are not all equal. Unless you choose a reputable and established company with a good track record of helping people, you are likely to end up with an agreement which fails, leaving you in more debt than when you started.

Unfortunately, some debt settlement companies are less concerned with finding the right solution for your situation and negotiating the best deal for you, than they are with charging excessive and non-refundable fees. In fact there are many companies to avoid, from the ones who simply do not achieve good results, to the ones who are outright scams.

You should ensure that you get advice and quotations from at least two or three settlement companies so that you can compare the different proposals and make a decision based on which provides the best value for you. You can do this easily whithout any obligation by applying to companies online and seeing what they can offer.

To help you avoid some of the debt settlement online companies that are likely to just give you advice based on what will bring them the biggest profit, I have recommended some of the leading US debt settlement online companies, who are all reliable, good value and reputable.

Remember - Debt Settlement online is only suitable if you have considerable unsecured debt to several different creditors. They cannot cover secured loans or mortgages. You should also have a source of income and some money left over after paying your basic living expenses.

The following recommendations are all for US companies, because that is where debt settlement is a widespread approach. For UK citizens, debt settlement does not really exist in the same way, as there is a much better alternative called an IVA, or Individual Voluntary Agreement. The companies below can therfore only assist US citizens.

UK citizens should therefore refer to the pages on IVAs and Debt Management for recommended companies who can help with serious debt problems.

US Debt Settlement Companies:

Remember - Apply To Three Of These Companies And Compare Offers

Top Choice: CuraDebt (US Only)

Read a full Review of CuraDebt here

Without doubt one of the leading debt settlement and debt management companies in the US, CuraDebt have been helping US citizens with money problems since 1996 and have an exceptional track record of success. One advantage of this is that they already have strong relationships with many of the most common creditors. Their team of very experienced negotiators have already settled well over $100 million of debt, and helped thousands of people to stay on track through the process of becoming financially solvent again.

Curadebt are unusual in providing you with a written guarantee of results. They also undertake business debt settlement for people who run companies that are experiencng debt problems.

Minimum Requirements For Help From Curadebt

For Curadebt to be able to help you, you must have at least $5,000 worth of unsecured debt. Curadebt are unusual in being able to help people in all US states EXCEPT Colorado and can also assist people in Canada.

How To Apply To Curadebt

The online application takes literally seconds, with just eight fields to complete. Just fill in the very simple online form, and then you will get an automated phone call which is just to verify your phone number. This message will give you a PIN number that you need to enter to validate your application. Please note, it is very important to complete the application form accurately and to respond to the verification message, otherwise your application will not be followed up.

Once your application is validated, an experienced debt advisor will get in touch to go through your finances with you.

FreedomDebtRelief.com (US Only)

FreedomDebtRelief.com are another major debt settlement company, with tens of thousands of people successfully enrolled in their program. To be eligible for debt settlement help you must have at least $10,000 worth of debt and be resident in one of the following US states:
AL, AK, AZ, AR, CA, CO, DE, DC, FL, HI, IL, IN, IA, LA, MD, MA,
MI, MN, MO, MT, PA, NE, NV, NH, NM, NY, ND, OH, OK, SD, TN, TX, UT, VA, WA.

They have a great track record of success and they make getting in touch very simple. Just go to the Online Form and fill in your full name, two phone numbers, email address, the state you live in and how much debt you have. It is as simple as that. An advisor will then make contact with you to go through your situation in a bit more detail so that they can advise you on your best course of action.

CareOne Credit Counseling (US Only)

Read a full Review of CareOne Credit Counseling here

This is another of the most well established and renowned debt help organisations, offering a range of debt solutions including settlement negotiation and consolidation/management plans. Their track record is impressive, with over 4.5 million satisfied customers already. The fact that they provide various different options means that you can just apply and after going through your finances they will advise you as to which route is best for your particular circumstances.

As with CuraDebt, above, the sheer size and experience of CareOneCredit means that they have strong relationships with most of the main creditors already, and can use the fact that they are negotiating for many people at the same time as leverage to get better deals.

For CareOne to provide you with a solution, you need to be a US resident with $2,500 or more in unsecured debts, to at least two different companies.

To apply without any obligation, simply complete the simple and quick online form and an experienced advisor will contact you very quickly.

DebtCreditQuote (US Only)

DebtCreditQuote cover all 50 US states, and specialise in helping people experiencing hardship, often through job loss, divorce, illness, etc. Many people turn to DebtCreditQuote when they are being threatened with legal action, and they are experts in handling such situations.

For DebtCreditQuote to help you, you must have a mininmum of $10,000 in unsecured debt and a surplus income (some money left after you have paid your normal living expenses).

To find out how DCQ may be able to help, just go the their website, click on the 'Apply Here' button on the left, and fill in the very simple form on the next page. They will then get back you by telephone to discuss your situation in more detail.

Credit.com (US Only)

Credit.com are another well established and highly respected company who work with a network of different debt help companies, chosen to deal with the many different types of financial circumstances which people find themselves in.

To be considered for assistance by Credit.com, you must have a minimum of $10,000 in unsecured debts and a source of income. Student loans and auto loans cannot be included in the program.

To get a free, no obligation consultation, just complete the online application form and they will get straight back to you by telephone to discuss your circumstances and requirements.

Your online application is used to match you with a provider who specializes in helping people in your particular circumstances. This partner will then go through your situation in more detail with you.

Selecting the right company for debt settlement online can make all the difference to whether you succeed in eliminating your financial problems or not, so I hope these recommendations are helpful.

Reliable Debt Settlement Companies

Debt Settlement And NegotiationChoosing Reliable Online Debt Settlement Companies

Go Straight To The List Of The Recommended Debt Settlement Companies