What Is Debt Settlement?
Debt Negotiation & Settlement – What You Need To Know
-
Should I settle my debt or pay the full amount?
According to Experian, it is best to pay off the full amount of debt owed rather than settling on a lesser amount. However, in difficult financial circumstances paying in full may not be an option. Negotiating and settling your debt is an alternative that will not be as damaging to your credit as ignoring the debt and not paying.
-
Should I work with a debt settlement company?
It’s important to consider all your options before contacting a debt settlement company, also known as “debt relief” or “debt adjusting” companies. These types of services are often expensive, and, in many situations, you can achieve the same results by working with the creditor or debt collector directly.
-
How to negotiate with a creditor to reduce the amount you owe?
Once you determine that paying a reduced amount is the best option for your situation, contact the creditor or debt collector directly to see if there is an opportunity for you to pay a lesser amount. The creditor or debt collector may be willing to accept less money to get the debt off their books. This can be an alternative to more extreme options such as filing for bankruptcy.
Our agents are ready to assist you – Call or Email us today! Please note that our friendly representatives will need to ask several questions to confirm your identity and locate your account details. This process ensures that your information is kept safe and that we are only discussing your debt with you or your authorized representative.
-
How to avoid debt settlement scams?
Sadly, there are many scams that target people who are searching for debt relief options. Some companies will make promises regarding debt settlement that cannot be guaranteed. Be wary of companies that charge you for their services before they attempt to settle your debt. Legitimate debt settlement firms should openly disclose their fees, offer guidance on how much money you should plan to save for the settlement, provide a process timeline, and outline the risks associated with not making payments on your past due debt.
Contact Us Today
Oxygen XL has been in business since 2011 and is an accredited member of the ACA International, an organization that establishes ethical standards in the accounts receivable industry. Our team of dedicated professionals is ready to assist you!
Address: 1 Hillcrest Center Drive, Suite 314, Spring Valley, NY 10977-3745 USA
Email: collectionsppm@oxygenxl.com
Telephone: 845-407-0507