Debt settlement program makes it possible to decrease the debts you have to the level when they are possible to be covered with your existing level of income. Debt settlement is often done with the professional help of credit consolidating companies. Personal Money Service is one of the companies assisting its customers in debt consolidation.
The process of debt settlement requires that your consolidation company leads negotiations for lower balance. Then your credit company gets the money and your debt account is marked as settled. The information about your debt settlement will be sent to three credit bureaus.
The process of such debt covering can last up to 18 months. It depends on the level of your outstanding debt and your possibilities to pay.
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