Debt Settlement is typically the most affordable debt relief option available. In a debt settlement program, a debt relief company will work with you and negotiate with creditors to pay a fraction of the outstanding debt.
Candidates for debt settlement have an overwhelming amount of debt that they can no longer afford to pay due to some kind of financial hardship. Through a debt settlement program, consumers, with the help of Umbrella Debt Relief, agree to pay the creditor a reduced amount of the total unsecured debt. This is usually done either in a lump sum or under a structured monthly payment plan.
Debt Relief Programs Can Help
UmbrellaDEBT has been working with consumers to work toward a debt-free life for many years. Our programs have helped thousands of people to regain financial freedom.
So Which Debt Relief Program is the Best?
In order to figure out which plan is best for you, it will really depend on your overall financial situation. Such as what kind of debt you have, how much debt you have if you have a financial hardship, and your ability to repay the debt you owe to the creditors.
When you contact us, our professional debt specialists will work with you to assess your personal situation. Then we will help explain all your options so you can make the most informed decision on how to get out of debt.
What Kind of Debt Qualifies for Debt Relief Programs?
In the UmbrellaDEBT Relief Program, we are able to help clients with Credit Card Debt, Personal Unsecured Loans, past-due medical bills, and Collection accounts. This program is basically for anything besides your house or car that is not secured by a title or deed.
Will My FICO Credit Score Go Down if I Use Debt Settlement?
Yes, debt settlement will have a negative impact on your credit however, once you complete the program, and are debt-free, it can be improved. The impact on your credit is not as severe as a bankruptcy. Also, keep in mind that if you have fallen behind on your minimum payments then the damage to your credit score is already happening so the impact of debt settlement may not be as severe.
Who Qualifies for Debt Settlement?
If you are struggling to afford your monthly payments, due to a legitimate financial hardship, then you may qualify for a Debt Settlement program. We work with you to come up with a Debt Settlement program that will work with you to help get you on track to paying off your debts.
It doesn’t matter what your financial situation is, everyone can benefit from getting help on getting out of debt quicker. We will work with you on coming up with a monthly budget and a monthly payment for these debts so hopefully, that will give you a light at the end of the tunnel! Contact us today!