Otherwise referred to as debt arbitration or negotiation, debt settlement is the process of reducing one’s debt by having both the creditor and debtor agree on a lower payment balance. The amount will then be considered as full payment. Some creditors even allow up to a 50 percent reduction.
To be properly guided on the benefits and drawbacks of debt settlement, Alouidor & Associates P.C. Will discuss with you regarding this option. We understand how difficult it could be to deal with monthly payments when consumer good prices are rising every now and then.