Filing for bankruptcy is not necessarily the answer to debt relief. Instead, debt settlement can help individuals and families deal with unmanageable debt stemming from financial and personal hardships including loss of income, an increase in excessive interest rates, a medical emergency, the death of a member of the household who provided financial assistance, a divorce, a failed business, a reduction in pay/hours, or unemployment.
United Debt Counseling is a debt settlement company that can help in debt negotiation with creditors and arrange for debt settlement. They do not charge upfront fees but only collect them upon successful settlement. Debt Settlement is a proven successful approach to debt relief. United Debt Counseling has helped many clients across the United States.
What United Debt Counseling does is to negotiate with the creditors to settle debt for a lower amount than owed. After the debt is settled, the creditor will send a letter stating the debt obligation has been fulfilled. In addition, the creditor will report to the credit bureaus that the debt has been, "Settled for less than full amount", "Paid in full" or "Settled in full”.
Application for debt settlement can be done online. Once the form is filled out, a debt consultant will review the information and call the applicant.