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Debt Settlement Flat Fee Starting $399. | GreenPointe Financial


Preferred by most debtors Debt Settlement is an agreement wherein the borrower and creditor arrive at a

reduced balance, and once the remaining difference has been satisfied/ paid (typically within 120 days or less)

the debt is then considered paid in full.


If you are still making minimum payments and haven’t fallen behind on your bills yet, you won’t be able to

settle your debt(s).  Because, an original creditor or collection company isn't going to accept less than what's

due if there is reason to believe they can continue to charge interest, plus late fees, and still collect the entire outstanding balance.

In other words, debt settlement is a viable option only when you have many late's, missed payments or

accounts in collections. Thus, Settlement offers are often accepted only if the creditor believes you won’t

or can't pay at all.



A “full and final settlement' means that you ask your creditors to let you pay a lump sum instead of the

full balance you owe on the debt. In return for a lump-sum payment, the creditor agrees to write off

the rest of the debt.. This course of action can usually be spread over a 3-4 month period.

What is the upside to negotiating a Lump Sum Settlement Agreement
1. Under this action a debtor can usually negotiate a substantially better discount.
2.  Debt Settlement is generally a faster and less expensive debt relief option than either debt
counseling or debt consolidation. 
3. Also, for the debtor, the matter is resolved and they can move on with life.

Entering into a Debt Settlement agreement can stave off a possible or active legal proceeding.

5. The Creditor has received some compensation immediately, verses setting up a payment
arrangement, risking the debtor filing bankruptcy; in which case they would receive nothing at all.
What is the downside to negotiating a Lump Sum Settlement Agreement
1. The downside to this type of debt negotiation is if the reduction is more than 600. the creditor may
report the transaction to the IRS; and doing so on your next tax return filing would have to include the
savings/ difference as Discharge of Indebtedness Income. 

Engaging this form of debt reduction can have a negative affect on your credit score. However, the

impact isn't even close to the damage a bankruptcy filing would cause.


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