You can still settle your debts even if you are a person that has really horrible credit.
You don't have to go through a credit review in order to complete this process.
This settlement process is just an agreement that is found after some negotiations.
The settlement process lets people that have really bad debt get relief from it.
You can not use this settlement process for things that are on secured loans, like your car or your mortgage.
You can only use the process for loans that are unsecured, such as personal loans and credit cards.
Many people can use debt settlement instead of filing for bankruptcy.
What occurs with this process is that a company, lawyer, or some other person is hired by the individual with bad credit to talk to the lenders to see if person's debt can be reduced.
A lot of times, the debt settlement process can reduce a person's debt by 35 to 50 percent.
Because of the number of people filing for bankruptcy, lenders have been a lot more willing to make deals with debt settlement companies.
If a person files for bankruptcy, the lender stands to lose all of the money that is owed them.
Because there is a chance that the person could file for bankruptcy and the lender could lose all the money owed to them, they are more than happy to make deals with settlement companies to reduce the amount of debt owed.
Also, they will not only be getting some of the money they are owed, but the lenders will also be able to get particular tax breaks.
The person who has the bad debt benefits from the debt settlement program in a lot of ways.
First, they won't have to pay the lenders as much money any more.
Second, they will most likely be able to pay off the money they owe in a period of 3 to 5 years.
If you do some research and compare different companies that offer the debt settlement process, you will most likely find one that will help you with your particular situation.
But, it is recommended that you use a debt counselor that is trusted and respected before you decide on any company, so that you can get debt advice from a professional that will save you time and money in the long run.