debt settlement/payment

MargeSLL22, you don't need to be so formal here :D

Consolidation companies send the payments to all the creditors who have been included in the program. You will draw only one check to the consolidation company who in turn will pay them further.

You will get monthly statements from your counselors as well as the credit companies. These statements will show the complete break off figure and how much money was applied in the respective accounts.

Once an account with the shorter balance is paid off, you can either reduce the payment plan or contribute the same amount by making larger payments to the remaining accounts.

To know about debt settlement program you can visit: http://www.debtconsolidationcare.com/debt-settlement.html