What is a Settlement Service?

The Settlement Service is an attractive alternative to bankruptcy for those who want to pay back at least a portion of their debt, but cannot afford to fully repay their debt. On a Settlement Service, your monthly payments are typically held in a protected account and your provider works to negotiate with your creditors for a less-than-full repayment. Over time, this allows deals to be made with each of your creditors separately and allows you to become debt free usually in 3-5 years.

During the time on a Settlement Service, creditors may choose to continue collection activities, including judgments, lawsuits, and wage garnishment. It is important to consider these risks when choosing a Settlement Service.

Learn more about the pros and cons of settlement