Debt Settlement

Working with a company, you make monthly deposits into an account. The company negotiates with your creditors to accept less than the debt owed. That amount is then paid to creditors, from the account you deposited into, until the debt is resolved.

 

Benefits

• Debt negotiation, also known as debt settlement, can help you to resolve your bills within 3-years or less (the average).

• Pay less than the total balance owed to satisfy a debt.

• One small monthly payment will take place for the consumer.

• Attorney FDCPA defense & protection included on each client’s plan. If creditors violate a client’s legal rights, FDCPA and legal protection are available.

• With debt settlement services, a client who finishes the program ends up paying less than their total debt owed.

• After 13-years in business, Golden Financial Services has established proven methods and aligned with the best debt settlement representatives in the nation, to ensure clients get nothing less than fantastic service.

 

Downside

• Will hurt credit scores.

• Your creditors don’t have to settle.

• May result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest.

• Consumers are supposed to pay taxes on a forgiven debt. There are tax forms that can assist consumers on this subject that a licensed tax preparer can help on, to evade having to pay taxes on the money saved if a person is insolvent. (IRS #982 Form)