"SETTLE YOUR DEBT AND LIVE DEBT FREE LIFE"
Debt settlement services, generally has a representative, who is in contact with the borrower. The representative always keeps the person informed about ever step. The settlement is finalized with the borrower’s consent. After this the person receives SIF (settlement if full) letter. A conformation number is given at the time of payment. And the statement received along with it will have zero balance due. The process continues till the state of debt elimination for the borrower.
However, one should understand that debt settlement can improve one’s credit history. The reason lies in the following facts:
• The creditors may not agree to settle. They would only agree, if the accept the fact that collecting a part of the total amount, is better than nothing.
• Generally for the initial three months of consumer debt settlement, the debt settlement company makes no payment to the creditors. It is kept on hold to check whether the borrower can afford to pay the installments. Due to this the borrower continues to receive calls from the creditors.
• If the borrower makes no payment to the creditors, then it is reported to the credit bureaus. This will affect one’s credit score badly.
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• When the creditors agree for settlement, it will also be informed to the credit bureau. The account will be marked for payment but not for paid as agreed.
• Before opting for Debt settlement USA, one should consider the positive consequences.
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