Fallen on hard times? Let us negotiate your debts and get your life back on track
If you are in debt and currently behind on your repayments, a debt settlement can reduce your debt or waiver it completely – leaving you debt free and able to move on with your life.
How Does Debt Settlement Work?
Debt settlement is a practice which allows you to pay a lump sum that’s generally less than the amount you owe to resolve, or ‘settle’ your unsecured debts. It comes into play only when you have many late or skipped debt repayments and when you have debt collectors knocking on your door. If there’s a genuine reason behind why you’re struggling to repay your debts, such as a relationship breakdown, job loss or serious illness, we should be able to successfully negotiate with your creditors to accept a smaller amount in a lump-sum settlement.
If you have access to a lump sum but it is not sufficient to repay the total amount of your outstanding debts, a debt settlement can waiver or reduce your debt amounts to allow final settlement with your creditors. Generally, our team at Debt Rescue can negotiate to have up to 60% of your debts wiped. For example, if you have a $20,000 debt, we may be able to negotiate with creditors to reduce the debt so you only pay a lump sum of $12,000.
What are the Benefits of a Debt Settlement?
Reduce your total debt amount
If you pay a lump sum settlement on your debts, you will reduce your overall debt amount and be debt-free sooner.
Avoid Going Bankrupt
Once we negotiate a settlement with your creditors, you will finally be debt-free. This means you avoid the harsh consequences and restrictions of bankruptcy.
Get Creditors and Debt Collectors Off Your Back
As soon as you engage us at Debt Rescue and give us permission to act on your behalf, all creditor harassment will cease.
Debt Negotiation for a Debt Settlement
Our team at Debt Rescue will create a Debt Management Plan (DMP) to suit your individual financial situation. If a debt settlement is recommended as the right solution for your circumstances, we will negotiate with creditors on your behalf.
Creditors have a lot of experience in debt negotiation which is why it’s best to engage an experience debt negotiation team like us. We take control of the situation so you can step back and be free of the stress associated with the difficult situation.
Generally, creditors are willing to negotiate debt on the basis that a lump sum will be paid. Receiving a lump sum now rather than having to wait years to receive what they are owed is an immense motivating factor.
During the negotiation process, we advise all of our clients to stop making repayments to creditors. Of course this is up to your discretion and your individual circumstances.
If we assess your financial situation and a debt settlement is not the best option for you moving forward, there are alternative options which can help get rid of your debt fast. These options include a debt consolidation loan, mortgage refinance, Informal Debtstroyer Agreement, Debt Agreement or Bankruptcy.
How Debt Settlement Works
Debt Settlement is a simple and fast solution to eliminate your debts.
Get in Touch
Get in touch with us at Debt Rescue and we’ll assess your financial situation. If Debt Settlement is the best way forward, we will begin the process straight away.
Negotiate with Creditors
We do all of the heavy lifting and negotiate with creditors on your behalf. We generally have success in getting up to 60% of our clients’ debt written off.
Once your creditors have agreed on the settlement, you pay us the lump sum and we do the rest. Your debts will be settled quickly and you’ll be back to living the life you want.
Still looking to get your head around how a debt settlement works? Get in touch with us today and we'll talk you through the process and what's involved
Need help with a debt settlement?
At Debt Rescue, we’re here to help you take control of your debt. We only recommend trusted lenders who can assist in your particular circumstances. Helping you achieve a debt- and stress-free life is our number one priority.
For a free chat about your financial situation, chat to one of our Case Managers today.