Professional Help to Settle Your Debt
What Is Debt SettleMent?
Debt settlement is a financial process that allows you to negotiate with creditors to reduce the total amount of debt owed. It focuses on unsecured debts—those that are not tied to collateral such as property or vehicles. Through debt settlement, you pay a lump-sum amount or a structured payment that is less than the original balance, offering significant financial relief while avoiding bankruptcy.
How It's Work?
Common Type of Debt Settlement Stratigies
Debt settlement is a process where we negotiate with your creditors to reduce the total amount you owe on unsecured debts. It begins with a thorough review of your financial situation to identify which accounts qualify for settlement. Once eligible debts are confirmed, Origin Financial works directly with your creditors to reach an agreement on a lower payoff amount. This reduced balance can be paid in a lump sum or through a structured payment plan, based on the terms negotiated.
Credit Card Debts
We help reduce high-interest credit card balances by negotiating a lower payoff amount with your creditors.
Medical Debt
Unpaid medical bills can pile up fast — debt settlement offers a way to reduce what you owe and regain control.
Personal Loans
Unsecured personal loans — whether from lenders or even friends and family — can often be settled for less than the full amount owed.
Department Store Charge Cards
Retail charge cards often carry high interest rates — we can help negotiate a lower payoff amount to reduce your total balance.
Payday Loans
With their extremely high interest rates, payday loans can quickly become unmanageable — debt settlement can help reduce what you owe through negotiated agreements.
Who Qualifies for Debt Settlement?
Debt settlement is an option for individuals with substantial unsecured debts who are unable to make full payments but can make a lump-sum payment or structured payments.
Individuals Facing Financial Hardship
Those experiencing job loss, medical expenses, or reduced income can benefit from debt settlement.
Unsecured Debt Holders
Individuals with high amounts of unsecured debt, such as credit card balances and medical bills, are the best candidates for settlement.
Those Able to Pay the New Total
To complete a debt settlement, you must be capable of paying the reduced amount, whether in a lump sum or through a structured payment plan.
Frequently Asked Questions
Debt settlement is effective for unsecured debts, such as credit card debt, medical bills, payday loans, and personal loans. Secured debts, like home mortgages or car loans, are not eligible for settlement.
Yes, debt settlement may negatively affect your credit score. However, as you reduce your debt and improve your financial situation, your credit score can improve over time.
At origin financial, we offer a free consultation to assess your situation. The cost of debt settlement typically involves a percentage of the amount saved through the settlement process.
Debt settlement programs usually take between two and four years, depending on the amount of debt and the speed at which agreements can be reached with creditors.
While most creditors are willing to negotiate, some may refuse to settle your debts. In this case, origin financial will continue to work with you to explore alternative options, such as debt management or other relief strategies, to help you regain control of your finances.
The amount you can save through debt settlement varies depending on your creditors and the amount of debt you owe. Typically, debt settlement allows you to pay a percentage of the total debt—often between 50% and 70%. However, savings will depend on your individual circumstances and the outcome of negotiations.
During the negotiation process, some creditors may continue to apply interest and fees to your account. However, once a settlement agreement is reached, the creditor will stop adding additional charges, and you will only be responsible for the agreed-upon settlement amount.
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