Debt Settlement

A Debt Negotiations Service is a highly aggressive financial strategy and could be an effective way to address your unsecured debts.

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What is Debt Settlement?

Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. This process isn’t without its risks and rewards, but it is highly recommended that you research this option and arm yourself with the facts. Many operators in this business are out of compliance with current rules and many of them will simply sell you into their program without issuing the proper disclosures and without a thorough budgeting session.

Why Choose OCCAM Certified Companies for Debt Settlement?

When considering debt settlement, it is important to choose a company that you can trust to negotiate on your behalf. OCCAM Certified Companies have undergone rigorous vetting and investigation to ensure that they are ethical, dependable, and competent in providing debt settlement services. OCCAM members are held to the highest standards in the industry and are committed to ensuring that their customers receive the best possible outcomes. In addition, OCCAM has a zero-tolerance complaint policy, meaning that if you have any issues with an OCCAM Certified Company, we will work to resolve them to your satisfaction.

The TSR Amendment and Debt Settlement Exemptions

The Telemarketing Sales Rule (TSR) Amendment, enacted by the Federal Trade Commission (FTC), regulates the practices of companies offering debt settlement services. The TSR requires that these companies disclose certain information to consumers, including the potential negative consequences of debt settlement and the fact that the service may not be available in all states. There are also exemptions to the TSR for certain types of debt settlement services, including those provided through face-to-face meetings or through non-profit organizations. OCCAM Certified Companies are knowledgeable about the TSR and will ensure that they are following all relevant regulations.

Is Debt Settlement Right for Me?

Deciding whether debt settlement is the right option for you requires careful consideration of your financial situation and goals. It is important to understand that while debt settlement can help reduce the amount of debt you owe, it can also have negative consequences, including damage to your credit score and the possibility of being sued by creditors. OCCAM Certified Companies will work with you to assess your financial situation and determine if debt settlement is a viable option for you.

The Benefits of Choosing an OCCAM Certified Company for Debt Settlement.

There are many benefits to choosing an OCCAM Certified Company for debt settlement services. In addition to the peace of mind that comes with knowing you are working with a trustworthy and competent company; OCCAM members have the knowledge and resources to negotiate the best possible terms on your behalf. They are also committed to ensuring that you are fully informed about the process and any potential consequences, so you can make the best decision for your financial situation. Whether you are struggling with overwhelming debt or simply looking for a way to improve your financial health, OCCAM Certified Companies are here to help.

Let Us Tell You

What You Should Know

Debt settlement companies do not make payments to the creditors
Your debts will go delinquent
Delinquent payments will be reported to the credit bureaus
Creditors can engage you with a lawsuit
Creditors will call. This is an unavoidable consequence
No outcome can be predicted or guaranteed
The first settlement may take many months to intiate
Estimated savings MUST include all fees
Any estimate must be substantiated by the company’s own performance
ALL fees must be disclosed
No fees may be taken until performance occurs (unless exempt from TSR)
Company must be registered in the state you reside and may need licensing

Debt Settlement can be a great way to address your debts when you are facing challenging times and need a reset. Credit can be re-established once the debts are resolved but the key to engaging a settlement program is to offload the debts before they get out of control. If you need a competent, honest provider, contact an OCCAM Certified company and get the facts. Once a thorough budget analysis has been completed and you have had a comprehensive debt consultation, your OCCAM Certified provider can direct you to the right option to best address your situation. If you are in serious financial trouble, bankruptcy could be the best option.

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