Debt settlement is the process of resolving unsecured debt for far less than the amount you owe. Depending on the situation, debt settlement offers might range from 10% to 50% of what you owe. According to AFCC data:

  • Debt settlement is by far the cheapest option compared to credit counseling or making minimum monthly payments, as the following numbers indicate‚Ķ
  • 95% of debt settlement clients receive savings in excess of fees
  • Most consumers see initial account settlements within 4-6 months of enrollment
  • Debt settlement clients pay no fees until settlements