Welcome to American Debt Advisors - Your solution for debt relief.
What is Debt Settlement and how does it work?
Debt settlement occurs when a creditor agrees to settle for an amount less than is owed. In this process, a debt settlement representative will negotiate with creditors to effectively reduce your debt and put you on the path to financial freedom.
Do you have debt from medical bills, credit cards, department store cards, personal loans, or student loans? In the current economy, it is has become very common for people to experience debt distress. Being overwhelmed by debt, many people turn prematurely to bankruptcy without exhausting all other possibilities, including debt settlement. This is a big mistake. Debt settlement helps you avoid bankruptcy, get in control of your financial situation and reduce your debt by as much as 60! It is typically the fastest way to reduce debt and generally has the smallest monthly payments.
In a recent New York Times article, Cyndi Geerdes, an associate professor at the University of Illinois law school said, “Done correctly, (debt settlement) can absolutely help people.” To avoid costly mistakes, it is important to work with a company that specializes in debt settlement. At American Debt Advisors, we are experienced and trusted debt specialists dedicated to saving you the most amount of money and helping you achieve debt freedom in the shortest amount of time. Call today and we will provide you with a free phone consultation: 1-866-575-2158.
If debt settlement is the right course of action for you, we will negotiate with your creditor to significantly reduce the amount of debt you owe. The creditor agrees to accept a reduced balance, and we are also able to provide you with a lower interest on this amount. Not only can we reduce your debt by as much as 40% to 60%, but we will also lower your interest rate by a significant percentage!
Take the first step toward financial independence. For a free consultation, call 1-866-575-2158.
Debt Settlement vs. Credit Counseling
While credit counseling will provide a lower interest rate on your debt, it will not reduce the total debt amount. This will enable you to decrease your total monthly payments but you will still owe the same amount. If you were to choose the debt settlement option, you could be reducing your debt by as much as 60% and sometimes more!
Debt settlement enables you to reduce your debt and lower your interest rate. You will not only have lower monthly payments, but you can pay off your debt much faster. Credit counseling will decrease your current rate, but you will be making those payments for years to come.
Debt Settlement vs. Debt Consolidation
Debt consolidation requires a new loan to pay off your high interest debt. Instead of having multiple creditors, you make payments to one new creditor. However, these loans can be difficult to get and they require a valuable asset such as a home or a car to secure your debt. If you are currently having trouble making payments, and you secure your loan with your home, there is a good chance you will lose your home if you don’t make your payments!
Also, while debt consolidation loans reduce your monthly payment by reducing your interest rate, you are still responsible for 100% of your debt. On the other hand, debt settlement reduces your debt, lowers your interest rate, and doesn’t require you to use your home to secure a new loan.
Benefits of Debt Settlement:
- Reduce debt as much as 60%
- Lower monthly payments
- Debt free in as little as 12 to 36 months!
- Avoid bankruptcy
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