The Truth About Debt Settlement Companies
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DEBT SETTLEMENT COMPANIES
Hundreds of companies in the U.S. promote themselves as business debt solution providers or debt negotiators.
Their target? Business owners with Merchant Cash Advances.
They promise:
- Reduced debt balances
- Affordable monthly payments
- Representation in negotiations
DEBT SETTLEMENT PROGRAMS
These programs typically include:
- Submitted Debt – The amount of debt they agree to handle
- Budget Plan – What you can “afford” to pay
- Escrow Account – Where your payments are held
- Service Fees – What they charge you (up to 30%)
They combine their fees with what you owe into a single monthly payment. It sounds helpful—until you realize what’s really happening behind the scenes.
WHAT DEBT SETTLEMENT COMPANIES DON’T TELL YOU
- Overpriced Fees – typically 30% of your total debt!
- Their fees come first – before your creditors are paid!
- Damaging Advice – You’re advised to stop paying creditors triggering lawsuits & frozen receivables!
- You’re still liable – but they indemnify themselves legally!
- Little action is taken until ~20% of your debt is collected in escrow!
- No guarantees of resolution or outcomes!
- Existing Litigation isn’t stopped – lawsuits and liens continue!