Debt settlement / consolidation is a form of debt relief that can assist you in overcoming the burden of overwhelming debt.

On average, consumers who participate in a debt settlement program do so in 3 to 5 years and generally pay less than half of the balance owed.

That amount typically includes any interest charges, late fees, and the debt settlement company’s fees. It can be an alternative to bankruptcy, and exists to assist consumers with significant debt due to personal or medical hardships.

Too often, consumers join consumer credit counseling services in an attempt to repay their debt, but soon find that it may have not been their best debt relief option. Some estimates show over 75% of people who turn to consumer credit counseling services either quit or are dropped from the program. As a result, many clients end up filing for bankruptcy. Debt settlement is an alternative solution for people who legitimately cannot afford to repay their debts and are looking for an honest way out of a debt-burdened life.