Allocated funds in the settlement program

The funds that have been set aside in your account remains fully under your supervision. You will be setting up the account and maintaining it. The debt negotiation company won’t take this responsibility to keep a check on your account. You will have to responsibly put money in the account each month during the program.

The amount that you will deposit in this account for debt payments will be much lower than the payments that you are presently making to your financial institution.

Once sufficient fund is arranged, debt negotiation company needs to be informed and they will start negotiating with the lenders. After the agreement is finalized, you will be sent a letter from the creditor with a dollar amount. You will use the money that is kept in the account for payment purpose. This check will be sent either through certified mail or use the check by phone facility.

You are keeping a check on your settlement program and this program is effective after money has been sent from your account. You will also acquire further instructions from the negotiation company after you have entered into the program.