Debt Settlement FAQs
What is debt settlement?
Debt settlement is the process of making full and final settlements to creditors. We will negotiate with your creditors to settle your debts for less money. Often debts can be settled with a discount of between 10% and 70% depending on the circumstances. We will negotiate strongly with your creditors to settle what you owe for the least possible.
How does it work?
Let’s say that you have some funds available. Perhaps a family member or friend is willing to help you by paying off your debts for you. Well that’s great, but we need to make that money work hard for you. Rather than just paying the debt in full, we can negotiate with the people you owe to pay even less money.
How much can I save?
It really does depend on your circumstances. It can be anywhere between 10% and 70% of what you owe. The great thing is that we only charge a percentage of how much you save, meaning that you can have total confidence in us.
What are your fees?
We charge 11.15% of what we SAVE you. Let’s say that you owe £10,000 on your credit card, and we are able to settle the debt for just £5,000. Our fee will be £575. You will pay off in full a credit card bill of £10,000 for £5,575. If we can’t save anything then there is no charge at all. Of course we think that’s highly unlikely.