How Debt Settlement Works?

How Debt Settlement Works with Debt Fellow

Our proven, affordable debt relief program will simply get rid of your debt and save you
money and the stress. Debt Fellow will guide you through the complete process through
our experienced debt specialists

Here are the 3 Simple Steps to YOUR financial freedom

STEP 1

Start With Free Debt Fellow Debt Evaluation

Our debt consultants will assess your debt, discuss your financial goals with you and explore your options together. This way we can create a personalized debt relief plan tailored to your income and expenses.

STEP 2

We develop a plan that is tailored to your financial situation

Instead of managing multiple payments to your creditors, your funds are allocated into one simple monthly payment in a dedicated FDIC Insured Client Service Account for settlements, which can then increase your available cash flow. YOUR MONTLY SAVINGS! This is key in allowing you to handle your other personal affairs each month, stress free. Our team at Debt Fellow will step in to negotiate with your creditors on your behalf. Once a settlement is approved, payments will be smoothly processed from your Dedicated Client Service Account directly to the creditors.

STEP 3

Financial Freedom

Typically, our program can assist in clearing your debts within 2-4 years

Eligible Debt that we can assist with:

Eligible Debt that we can assist with:

The following debt is ineligible for Debt Relief:

Please contact us if you’re unsure about which debt is eligible for relief

What type of people can benefit from our program?

Our Debt relief programs are a lifeline to many different people having difficulty maintaining their financial health in the short or long term. Here are some scenarios:

  1. Most people are struggling to manage paying every month on multiple debts, such as credit cards, loans, and medical bills. This obviously does not include all the other personal expenses that are being paid such as a mortgage, rent, car payments, groceries, etc. This can be overwhelming for most people. Our Debt relief programs can provide a structured approach to reduce and eventually eliminate most of these debts allowing these people to take care of those other expenses, or simply add more to their savings, putting them ahead and build towards a better prepared future.
  2. High-Interest Credit Cards and Loans: People overwhelmed by high-interest debts, especially credit card balances, can find relief through our program as we negotiate settled payoffs to eliminate the interest and usually a big portion of the principal amounts owed, helping them save huge money in the short and long run.
  3. People who have lost their jobs recently, experiencing a reduction of income due to wages or hours cut, or some other personal financial instability can turn to our program to navigate through these difficult times and regain their financial stability and have a better foreseeable future.
  4. Facing Legal Action from Creditors: Individuals facing lawsuits, wage garnishments, or other legal actions due to unpaid debts or collections accounts may seek our debt relief program to resolve these issues and prevent further legal consequences.
  5. Seeking Financial Discipline: Spending behavior is a big problem for a lot of people. Some individuals may benefit from out program to regain control over their finances and adopt healthier financial habits, such as budgeting and saving. This again, will help them have a better foreseeable financial future.
  6. Individuals Struggling with Medical Debt: Hospital and other medical care costs have always been at an extreme high! People burdened by significant medical expenses, either due to unexpected emergencies or ongoing treatments, can find relief through our program as we negotiate with medical providers and collection agencies reducing and often eliminating the debt all together.
  7. Experiencing Repossessions or Foreclosures: Individuals at risk of losing assets like vehicles or homes due to unpaid debts may benefit from our debt relief program as we negotiate alternative arrangements to prevent repossession or foreclosure.

 

Ultimately, the road to getting out of debt never seems easy at first glance. Regardless of what the initial circumstances were for putting you into debt, these programs are designed to get you back on your path towards financial freedom and stability. Therefore, anyone burdened with overwhelming payments and debts and/or are seeking assistance with maintaining a health financial future to contribute more towards savings and retirement, or maybe want to simply be able to buy a home one day, can benefit from these programs.

Why choose Debt Fellow for your financial freedom?

We have been in the financial industry for well over 20 years! And as a leader in debt
resolution, we empower everyday people to move toward a better foreseeable financial future. We give you a plan and could help resolve your debt in as little as 24-48 months.

Our programs are simple but smart with a lot of flexibility, allowing our clients to have a tailored personalized experience.

One of the most important aspects is that creditors take us seriously! We have built a trusted relationship experience with your creditors over the years and combined with our legal teams, this brings a proven workable approach that all parties take seriously.

In addition, our Free Debt Evaluation, and Personalized Assessment with Clear Terms gives each of our clients an ease of journey.

Clients from all walks of life come to us at Debt Fellow with various financial situations.

Often, their credit is being destroyed due to the debt, limiting their options. Many are already considering bankruptcy or unable to get a loan to help. We work together through every step of the way, tailoring a plan that is affordable and workable.

Frequently Asked Questions

Debt relief refers to various strategies and services designed to help individuals reduce, manage, or eliminate their debt. This can include debt settlement, debt consolidation, credit counseling, and more.

Our debt relief program starts with a free consultation where we assess your financial situation. Based on this assessment, we create a customized plan that may involve negotiating with creditors, consolidating debs, or setting up a manageable repayment schedule.

Debt relief can impact your credit score, depending on the method used. For example, debt settlement may initially lower your credit score, but it can improve over time as you pay off your debts and demonstrate responsible financial behavior.

The duration of the debt relief process varies based on individual circumstances, such as the amount of debt and the type of relief program chosen. On average, our clients see significant progress within 24 to 48 months.

We can assist with various types of unsecured debts, including credit card debt, medical bills, personal loans, and certain types of student loans. We do not handle secured debts such as mortgages or auto loans.

Getting started is easy. Contact us for a free, no-obligation consultation. Our team will assess your situation and provide you with a customized plan to help you regain control of your finances.

If you would like more detailed information on how your credit is affected by debt settlement and how it can approve it or the credit repair process please call us