What Is Debt Resolution?

When you’re struggling with high interest credit card or other unsecured debts, Debt resolution is designed to allow you to pay off and Settle your debt sooner for a fraction of what you owe.

Debt Resolution programs help you settle your debt for less than your outstanding balance. Within these programs, participants make monthly deposits into a savings account. Once enough money accumulates, this account is used to negotiate lower settlements with creditors. This process is repeated one account at a time until each one is settled and all debts are cleared.

Because Debt Settlement companies are negotiating with creditors to settle for less than you owe, the timeline to become debt-free is much faster than with other options, typically only 24-36 months.

One limitation for Debt Settlement is that it is not a solution for secured debts such as a mortgage, auto loan, or home equity loan. Since these debts are secured by collateral, creditors will not be willing to settle your balance for less. If you are struggling with secured debts, other options, such as Debt Consolidation or Debt Counseling might be best.

Today’s Approval team can provide you with the best option and provide a solution to your debt. If Debt Settlement sounds like it could be the right solution for you, click here for a free consultation.

Facts About Debt Resolution

1) The Debt Resolution industry is highly regulated by the U.S. Federal Trade Commission. In 2010, the FTC strengthened its regulation through revisions to the Telemarketing Sales Rules (TSR). In addition, many states provide strong oversight of the industry.

2) Today's Approval works on behalf of consumers, standing up to creditors and representing the interests of their clients. Under FTC guidelines, debt Resolution clients pay no fees until
settlements are completed.

3) Today's Approval is required to adhere to all Federal Trade Commission consumer protection guidelines, which:
A) Prohibit upfront fees.
B) Require companies to disclose fundamental aspects of their services, including how long it will take to get results and how much it will cost.
C) Prevent companies from misrepresenting services.

4) Consumers can withdraw from their engagement with debt settlement companies at any time because debt settlement companies never have custody of consumers' funds. Once engaged with a customer, Today's Approval accesses necessary information in order to work with creditors to design affordable settlements.

5) Clients have the right to reject or withdraw from these agreements at any time, for any reason.

6) Today's Approval diligently works to protect the privacy of clients.

7) Today's Approval provides considerable benefits to consumers, relatively quickly. Consumers generally see initial account settlements within 4-6 months of starting a debt settlement program.