Debt Settlement

Thousands of people are making minimum payments on unsecured debts and credit cards but their balances have not gone down because as Bruce McClary says, "If you miss a successive payment, interest rates can climb up as high as 36% and you'll get smacked with late fees."

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Negotiation with your creditors

Settlement Program

Debt Relief Services

What is debt Settlement?

Both debt consolidation as well as debt settlement, are two forms of financial help and are often used interchangeably and lead to much confusion. Many consumers do not realize that these are vastly different debt relief services.

Debt consolidation is combing debts from several creditors and then taking out a single loan to pay them all at reduced monthly payments and interest rates. This is done by consumers who are trying to keep up with a multiple credit card debts and other unsecured debt

How It Will Work?

We at Royal Debt Relief are proud to negotiate on your behalf with the creditors for a lower balance than what you owe. The first step is to discuss your financial situation and get to know just how much you can afford to pay. We will then work with you to decide how you will approach the debt settlement process.

If you chose to enrol in our debt settlement program a special purpose account will be created in your name on a monthly basis based on your debt amount, income and basic necessity expenses. Once you start building up your funds we will negotiate on your behalf with your creditors to lower the balance of your debt. Our negotiation team at Royal Debt Relief will finalise resolutions with your creditors' one at a time. As each offer is finalised you will be notified to approve it. Once your approval is received the account will be settled and the process continues until all your debts are resolved. It will take 24-48 months to complete the process and set you free from debt.

Difference Between Debt Consolidation And Debt Settlement

The pros and cons of both these debt relief services vary especially with regard to the impact it will have on your credit score and the amount of time it will take to eliminate your debts. Both debt consolidation as well as debt settlement aims at making your debts more manageable. If used properly either of the two can help you save money and get out of debt sooner. It is up to you to decide which option is best for you.

Royal Debt Relief is a company that deals with debt relief services and can aid you in negotiating with your creditors and set you free from debt problems. With a good settlement program you could ... Read more