How does debt settlement work?

Debt settlement involves negotiating with creditors to settle debts for less than the full amount owed. A debt settlement company like Pacific Debt Relief will work on your behalf to negotiate settlements that reduce your debt.

Will debt settlement affect my credit score?

Yes, debt settlement may have an impact on your credit score since you are not paying back the full amounts owed. However, Pacific Debt Relief aims to help you become debt-free, which can allow you to rebuild your credit over time.

How long does debt settlement take?

The debt settlement process typically takes around 2-4 years depending on your unique financial situation. Pacific Debt Relief will provide a customized timeline during your free consultation.

What are the fees for debt settlement services?

Pacific Debt Relief's fees range from 15-25% of the total enrolled debt amount, depending on your state. The fee is spread out throughout the program. There are no upfront fees.

Do I need to stop paying my creditors during debt settlement?

In most cases, yes. Pacific Debt Relief will advise you to stop making payments so that funds can be set aside in a dedicated account to later pay negotiated settlements.

Are debt settlement payments affordable?

Pacific Debt Relief offers customized payment plans to fit your budget. Based on a free financial review, they can determine an affordable monthly payment to complete debt settlement over time.

Lorretta from Chantilly Virginia Debt Relief Review

February 13, 2018

Last Updated: November 1, 2023

Pacific Debt Relief

Pacific Debt Relief is a debt relief company that helps consumers negotiate with creditors to settle debts for less than what is owed. Their debt settlement services provide a customizable program to become debt-free.

Lorretta from Chantilly Virginia Debt Relief Review

My husband did the research and really liked them. From the very beginning they were very flexible with me. At first they wanted 22% of the debt payments but we were able to negotiate and got it down to 20%. They're flexible and helpful like that. They always get back to me whenever I have questions and communicate really well through emails. They were all very detail oriented. We got letters, emails, and phone calls too whenever they needed to communicate with us or give us updates. They talked with the creditors and negotiated great savings for us. They explained what they were going to do, but also how they'd do it. They also told us how to handle things and how to go about doing what we needed to do. They were very thorough and always went the extra mile for us. I'm relieved that I did it, I'm completely out of debt now. I'm very happy I went with it.

Lorretta
Chantilly, Virginia Debt Relief Review
Febrauray 13, 2018
Provided by BestCompany

FAQs

How does debt settlement work?

Debt settlement involves negotiating with creditors to settle debts for less than the full amount owed. A debt settlement company like Pacific Debt Relief will work on your behalf to negotiate settlements that reduce your debt.
Will debt settlement affect my credit score?

Yes, debt settlement may have an impact on your credit score since you are not paying back the full amounts owed. However, Pacific Debt Relief aims to help you become debt-free, which can allow you to rebuild your credit over time.
How long does debt settlement take?

The debt settlement process typically takes around 2-4 years depending on your unique financial situation. Pacific Debt Relief will provide a customized timeline during your free consultation.
What are the fees for debt settlement services?

Pacific Debt Relief's fees range from 15-25% of the total enrolled debt amount, depending on your state. The fee is spread out throughout the program. There are no upfront fees.
Do I need to stop paying my creditors during debt settlement?

In most cases, yes. Pacific Debt Relief will advise you to stop making payments so that funds can be set aside in a dedicated account to later pay negotiated settlements.
Are debt settlement payments affordable?

Pacific Debt Relief offers customized payment plans to fit your budget. Based on a free financial review, they can determine an affordable monthly payment to complete debt settlement over time.

Get Started with Debt Relief

If you're struggling with high amounts of debt, Pacific Debt Relief can help. Their customized programs negotiate with your creditors to settle debts for less than you owe. Learn more about their services and take the first step towards becoming debt-free today.

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