Since it provides debt relief and debt adjustment services, the debt settlement company may also be referred to as a debt relief company or as a debt adjustment company. The company typically charges a fee if it negotiates a better payment plan, a settlement, or a reduction, usually a percentage of the savings you will receive from the settled debt. Since it provides debt relief and debt adjustment services, the debt settlement company may also be referred to as a debt relief company or as a debt adjustment company. The company typically charges a fee if it negotiates a better payment plan, a settlement, or a reduction, usually a percentage of the savings you will receive from the settled debt.

Discover how debt relief works and what types of debt relief are available.

Your company may try to negotiate a lump-sum payment with your creditor that is less than the amount you owe. You may be required to regularly deposit money into an account that you control but is administered by an independent third party while they negotiate. You use this account to save money for the lump payment.

You may also be advised to stop paying your creditors while the debt settlement company negotiates.

In order for the debt settlement company and your creditors to reach an agreement, you must agree to the agreement and make at least one payment to your creditors - at a minimum, changing one of your debts. Upon completion of the debt settlement process, the debt settlement company may begin charging you fees. In order to accept a debt settlement agreement and change the terms of one of your debts, you must agree to the terms and make one payment to the creditor or debt collector. You can be charged fees by the debt settlement company once it has completed its work