Need more information on debt settlement

Welcome to the forums!Since you signed up did you also sign up for the free credit counseling? If so, someone will be contacting you and can answer your questions. In the meantime,please fell free to browe different forum topics. There are alot of people who have the same questions and financial problems,and this is a great place to get answers and support. Keep us posted :D ...Karen

The page given below will explain how a debt settlement program works. Usually people having a huge amount of debt and unable to make the minimum payments choose the settlement program. A new account will be opened for you where you will be asked to send your monthly payments. In the meantime, the settlement company will contact your creditors and inform about your enrollment in the program. They will offer a settlement amount to your lenders. The negotiations may take some time to finalize. Some lenders may be quick enough to accept your proposals before the debt runs out of the SOL period, whereas a few will sound unmoved. The negotiations with them will take a longer time, perhaps. It is not necessary that all your creditors will be willing to work with the settlement company, but if your counselor has done business with them in the past, they will understand their language and will set forth your payment plans. You need to discuss the matter thoroughly with your consultant before getting started in the program. Putting a general comment, the success of your debt settlement program depends upon the negotiations done by your counselor. You need to keep in touch with your settlement company and know the status of your accounts. Debt Superior Relief is a favorite of many members here as far as settlement program goes.

http://www.debtconsolidationcare.com/debt-settlement.html