Debt relief
A debt relief program may lower enrolled balances through negotiated settlements. It can also damage your credit and does not stop every collection action. Here is the whole picture.
Debt relief is generally designed for people with significant unsecured debt who are experiencing hardship, are behind or close to falling behind, and cannot qualify for an affordable consolidation loan.
Your credit will likely be adversely affected. Missed payments may be reported, balances can grow from interest and fees, and collection activity or lawsuits may continue before settlement.
Fees typically range from 15% to 25% of enrolled debt. Programs generally run 24–48 months. Clients who complete all program payments resolve approximately 45% of enrolled debt on average before fees; individual results vary.
You review a written plan, open a dedicated account under your control, make monthly deposits, and approve each settlement before funds are released.
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