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Why Choose Debt Settlement?

  • Writer: Griffin  Amundson
    Griffin Amundson
  • Aug 1, 2024
  • 2 min read

Updated: Aug 6, 2024

Searching for the best way to tackle your overwhelming debt? Debt settlements could be the answer you’ve been looking for. Here’s why they are more beneficial when compared to other debt relief options:


Debt settlement negotiatons

Why Choose Debt Settlement?


Reduced Debt

Debt settlements allow negotiation with creditors, so you're able to pay less than what you owe while reducing your total debt significantly.


Faster Debt Relief 

Debt settlements provide faster relief by settling your debt in a shorter time frame.


Avoiding Bankruptcy 

Debt settlements could be an alternative to bankruptcy, which can have long-lasting financial consequences.


Flexibility 

Settlements are flexible in terms of repayment, offering options like lump-sum payments or structured installments based on what you can afford.



Comparing to Other Options


Debt Management Plans 

These plans typically require full repayment of your debts.


Bankruptcy 

This significantly has long-term consequences on your credit score and financial standing.



Conclusion

Choosing the right debt relief option depends on your financial situation and goals. Debt settlements offer an opportunity to settle your debts for way less, avoid bankruptcy, and regain control of your finances faster. Discussing your options with a non-profit organization or a financial advisor will guide you in finding the best path towards a debt-free future.


Explore more about debt settlements and other financial solutions to make the most beneficial decisions about your financial future.




Content Disclaimer:
The content provided is intended for informational purposes only. Estimates or statements contained within may be based on prior results or from third parties. The views expressed in these materials are those of the author and may not reflect the view of Empower Financial Relief. We make no guarantees that the information contained on this site will be accurate or applicable and results may vary depending on individual situations. Contact a financial and/or tax professional regarding your specific financial and tax situation. Please visit our terms of service for full terms governing the use this site.

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We provide debt resolution services. Our clients who make all monthly program payments save approximately 45 - 55% of their enrolled debt (average of 51%) upon successful program completion. Programs range from 20-48 months. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific time frame. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Empower Financial Relief conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt consolidation companies. We do not discriminate on the basis of race, color, religion, sex, marital status, national origin or ancestry. 

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