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Benefits of Debt Settlement

Published October 2020 by Jordan Semprevivo
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Are you thinking about negotiating the reduction of your debt directly with your creditors? You may want to think again.

Hiring a professional debt settlement company to do the job presents you with some significant advantages. Here are just some of the important reasons that hiring a debt settlement company makes sense:

  1. Debt settlement professionals are master negotiators.
  2. It always makes financial sense to hire an expert to have a job done well.
  3. A good debt settlement company has your interest at heart, not that of your creditors.
  4. A good debt settlement company makes your settlement progress fully transparent.
  5. You only pay a reputable debt settlement company when your debt is actually settled.

A Debt Settlement Professional Is a Master Negotiator

There is plenty you can do to improve your financial situation and limit your debt. In some situations, when your debt has not yet snowballed out of control, you may even be able to resolve it on your own. 

Past a certain point, however, when you have missed payments for six months on at least four different accounts, for instance, handing over the reins of your debt management to a professional is the sane step to take. 

Debt negotiation and settlement is a long and tedious process. It can take several years to make meaningful headway on your own. On the other hand, debt settlement professionals have the knowledge and skills to negotiate on your behalf with patience, persistence, and determination. They develop relationships with creditors over time and come to understand what makes those creditors tick. This depth of understanding helps them quickly assess which creditors are most likely to settle and for what amount.

Because debt settlement companies handle hundreds or even thousands of accounts, they can often get better deals from creditors than a long debtor ever could. In the unlikely event that your debt settlement company is unable to reach an acceptable settlement with your creditors, it will cost you nothing to have tried this option.

Hiring a debt settlement company can relieve you of considerable stress, as debt specialists will handle all communication with your creditors with professionalism and courtesy, leaving you with the assurance that matters are being handled appropriately.

Debt Settlement Makes Financial Sense

It's likely that at some point in your life, you were taught that, if you want to do a job right, you need to use the right tools for the job. Debt settlement is a tool to help you get out of debt, but not just anyone can use that tool with precision. 

A reputable debt settlement company has the tools to reach quite beneficial settlements with creditors on your behalf. According to a 2020 report of the American Fair Credit Council, for every $1 you pay your debt settlement company, you net $2.67 in savings. On average, for every settled account, debt settlement saves debtors $1,700 after fees. 

Dedicated Debt Settlement Professionals Have Your Interests in Mind

Expert negotiators get you the best deals in the shortest amount of time, leveraging their knowledge and skills on your behalf to exert influence over your creditors to accept your terms. 

At the same time, professionals, like ClearOne’s Certified Debt Specialists, make sure that you understand what debt settlement entails in your situation. They create personalized solutions adapted to your needs and budget. A good debt management professional offers support throughout the debt settlement process. As a client, you should receive prompt answers to any questions you may have at any stage of the settlement program. 

Debt Settlement Is Fully Transparent

A proper debt settlement company lets its clients monitor their progress closely. To this end, ClearOne has set up a dedicated self-service client portal. Through this portal, clients have full, real-time access to all of their account information. 

Before you enroll in a program, your debt resolution company must disclose all essential information such as: 

  • Details about the conditions and fees pertaining to the service.
  • How long it will take to settle your accounts and when it plans to begin the debt negotiation on your behalf. 
  • How much you have to contribute to the program before it starts making settlement offers to your creditors. 
  • The consequences of stopping payments to creditors, including credit score impact, possible legal ramifications, and credit report damage. 

As a debt settlement client, you need not settle for anything less than full transparency. 

There Are No Upfront Fees

Unlike some other debt resolution options, debt settlement does not cost you anything upfront. You only pay when your debt management company settles your accounts. This is highly advantageous because it means that you will only pay when you have already begun to experience debt relief, not upfront when you are at your most economically challenged state. 

Why not take advantage of the help a professional debt settlement company can provide? Contact a ClearOne Certified Debt Specialist at 866-481-1597 and feel free from debt. Get control of your finances today.

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Topics: Debt Consolidation