For many Americans a reduction in their overall debt may not be the answer to their financial situation because of cash flow problems. If you are past due because of a decrease in your income and the potential of increasing it is next to impossible then bankruptcy may be the only option.

For thousands of Americans there is hope outside of bankruptcy that is debt settlement. The origin of settling debts for less than the original amount has been a part of history dating back to Biblical times. This is not a new practice and will remain as part as our culture for as long as we have people in debt.

It's very important to keep in mind the types of debts that are normally negotiable are known as unsecured debts. These can be department store cards, credit cards, personal loans, defaulted medical bills, auto repossessions, old phone bills, and there are more. The types that are not negotiable are home mortgages, auto loans, and motorcycle or boat loans where you still have the vehicle but the bank holds the title. Others are taxes, child support, alimony, federal funded student loans, and any other bills that you are still using the service.

Every situation is different when dealing with collectors to settle your debts there are many factors that dictate what will or will not be accepted. Depending on your situation, we may settle one or more of debts for as little as $0.20-0.30 on the dollar. Then some creditors may be very difficult and the best they will take may be $0.50-0.60 on the dollar. This is when a professional company that deals with your creditors on a daily basis will be able to determine what is good and what is not.

Real Life Examples