National Debt Settlement Services

No matter where you go in the United States, levels of consumer debt are rising at a swift pace. A large proportion of consumers are forced to turn to their credit cards to purchase their every day necessities for living. Unfortunately, not all of these individuals have the necessary means to generate a sufficient income to pay back the debt. In a majority of cases, consumers are facing particular hardships that prevent them from making their credit card payments as those particular payments are not at the top of their priority list. Medical problems, divorces, loss of employment and taking a pay cut are the most common hardships that push consumers into high levels of credit card debt. Fortunately, a large percentage of companies are out there that provide national debt relief services for consumers struggling to meet their financial ends.

Franklin Debt Relief is a debt settlement company that provides national debt relief help for consumers with unsecured debt problems. More specifically, FDR is a debt settlement program for consumers dealing primarily with credit card debt, unsecured personal loan debt, and medical bill debt. These are all considered unsecured debts due to the fact that there is no collateral, or asset, attached to the credit. In a debt settlement program, negotiators work with your creditors to settle your debts for less than you owe.

The consumer is set up on a monthly payment plan and makes one consolidated payment to the program.  That payment is made into a savings or trust account that is set up in the client’s name where the funds accumulate and are not distributed to your creditors.  For such a program to work, the accounts need to be delinquent so the creditor has incentive to reach a settlement and see a greater percentage of the debt amount, as opposed to a scenario where the debt is charged off or the consumer files bankruptcy. If the client continues to make payments on the accounts and remains current, the creditor is going to assume that the client has the sufficient funds to pay back the full debt amount, and therefore has no incentive to settle. As one could understand, different creditors are likely to settle for different percentages, and every client in a debt settlement program is facing unique circumstances that influence the outcome of these settlements.

For further information pertaining to national debt relief and the specific services offered, follow our debt settlement, credit counseling, and bankruptcy resources links that are posted on the homepage of the website.