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Debt Settlement means that your principle balance of debt is negotiated down to a lesser amount. Settlement can be one of the most attractive options available to you if you have more debt than you can pay off in a 2 – 3 year time frame, or if you are unable to make the minimum monthly payments due to financial hardship. With a debt settlement program, MLG will negotiate on your behalf in order to lower your principle balance. In most cases, you can also lower your monthly payments due to the lower principle balance.

It’s not surprising that the idea of paying less than what you owe to creditors can sound too good to be true. Chances are you’ve seen advertisements for debt settlement and wondered if there was any legitimacy to the claims. Debt settlement is absolutely a viable option for people who have hit financial hardship. If you are unable to make monthly payments to your creditors due to true financial hardship, more often than not they are willing to negotiate a lower principle balance to retrieve some of what you owe as opposed to nothing. This is why paying less than what you owe is a reality for many Americans who are struggling to pay off their debt.

At first glance, settling your debt sounds like an extremely complicated process and can be a little intimidating to tackle on your own. After enrolling in a debt settlement program, the company or firm will take on the burden of dealing with harassing creditors and serve on your behalf to negotiate the lowest possible payoff amount to the creditor. MLG will help you pick out a customized program that fits your needs, and will set you on a path to lower monthly payments and becoming debt free in as little as 12-36 months.

During the debt settlement process, there is a chance that creditors will attempt to contact you about payment. There are several options to help alleviate the calls from creditors including call forwarding options and education on FDCPA rules. It is extremely important to know your rights as they will protect you from harassment and MLG will empower you to take control. With this in mind, most creditors will respect the fact that you are being represented by a third party and will start communicating with the third party upon realizing that you have enrolled into a program.