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What Is Debt Settlement?

Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction.
Debt settlement is negotiating with the creditor to only pay a portion of the owed debt. For example, if you owe $20,000 the negotiation process might get the creditor to accept $10,000 and forgive the remainder of the balance. That results in a 50% reduction of the debt you owe.
Most lenders are willing to negotiate, to ensure they will receive a partial amount of the debt, rather than lose it when the debtor files bankruptcy.
For the debtor, debt settlement is a less expensive alternative to bankruptcy and allows the debtor quicker access to loans and other sources of funds than bankruptcy does after the debt has been cleared.

PCS Debt Relief
July 6th, 2016|

About the Author:

At PCS, our programs are tailored to the client’s specific financial needs. What sets us apart from our competitors is that clients see relief, before any payment is received. Our NO UP-FRONT FEE policy ensures our client’s a 100% satisfaction guarantee. We also do not charge any monthly fees or any cancellation fees. We want the client to feel comfortable during the whole process that’s why we allow them to be part of it every step of the way.

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