What is Debt Resolution?

Written By Aaron Sarentino
Dec 6, 2022
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Debt is a financial killer. What often begins as a way to make payments between gaps in income can quickly become a money pit that gets deeper and wider as interest payments stack up. 

Fortunately, there is a way to take a step back and keep this pit from growing any larger. This article will explain how debt resolution can save debtors from financial ruin and help you determine if it’s the right course of action for you. 

What is Debt Resolution?

Debt resolution is a method that debtors use to repay their creditors with minimal hassle and without filing for bankruptcy.  A skilled negotiator communicates and negotiates on your behalf to make your payments more manageable and to protect you from constant harassment. These negotiations are designed to reduce the principal amount owed. 

Debt resolution does not entirely eliminate the debt you owe but puts you on a path toward financial stability while avoiding financial ruin.

Debt Resolution vs. Debt Settlement

Debt resolution and debt settlement are often confused with one another because they are both methods designed to pull individuals out of debt. 

However, debt settlement involves negotiating with creditors to reduce what you owe them and is typically only accepted if you have fallen behind on payments and have no way to procure the necessary funds. In other words, your creditors would rather have something than nothing, so they settle. It’s possible to settle your debt without a third party, although it’s not recommended. 

For example, if you have fallen behind on payments toward $10,000 of credit card debt and you simply cannot pay, your creditors may settle for $9,000, forgiving the difference and pocketing what they can. 

How to Find a Debt Resolution Program 

If you are having trouble making debt repayments, you may want to consider contacting a debt relief company that can help you navigate the debt resolution process. 

Trust and experience are what make a good debt settlement company. Americor has relieved $2 billion in debt over 30 states. They are fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). With over 400 employees, Americor can tailor the optimal solution to your situation and help you navigate these uncertain financial times. 

Determine if you qualify for debt settlement, get a free debt analysis to determine if debt consolidation is viable, and receive credit counseling by talking to a certified debt consultant today. 

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About Americor

Americor provides debt solutions to thousands individuals and families all over the country. We’re a next-generation debt relief company with a proprietary platform designed to help clients get out of debt quickly. Together we’ll develop a strategy for you to enjoy a debt free lifestyle. Learn more about how Americor can help relieve the burdens of debt today.

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Address:
18200 Von Karman Ave, 6th Floor Irvine, CA 92612
New Clients:
[email protected]
Existing clients:
[email protected]
Phone:
866-333-8686

We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

Americor Funding, LLC (18200 Von Karman Ave, 6th Floor Irvine, CA 92612) is fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). CA Department of Financial Protection and Innovation (DFPI) License # 603K913.

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