Debt settlement , also known as debt arbitration or debt negotiation , is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.
Once a potential client decides to take action and learn about the options available, designed to aggressively reduce and eliminate unsecured debt, they should reach out to a debt counseling professional at All World Financial.
First, we begin by discussing your unique financial situation. With a full understanding of your financial status, you and your professional Debt Counselor will choose the appropriate program best suited for you.
Then, an application and standard service agreement is reviewed by you and your Debt Counselor and executed in order to get on the road toward financial relief.
During the 1 st stage, or “Savings” portion of the program, Correspondence is being sent on your behalf at the right time. This will inform creditors of your hardship, your retained representation, and your intentions to seek affordable re-payment options. Your budget is an important determining factor when discussing settlements.
Once a client has accumulated a predetermined amount of cash for settlement, professional arbitrators begin the “Pay stage” portion of the program. Your creditors are now SEEKING to “Make a deal!”
Our arbitration staff utilize professionalism, experience, and relationships with creditors to achieve clear and affordable solutions to your outstanding debt. Payments can be processed only when a new agreement is provided directly from the creditor or creditor representative.
Once we have something in black and white we can process payments from your special purpose account to clear your outstanding debt with each creditor.
This process will continue until arrangements for all accounts have been made so that you can begin living a DEBT FREE LIFE!!