DEBT MANAGEMENT
You are provided with a lower monthly payment and fixed term. You make payments into a trust account while attorneys and experienced negotiators work with your creditors to establish pay back terms that work with your budget. Once a settlement is reached the money from your trust account is sent to the creditor at the new negotiated rate.
Debt settlement typically suits individuals with unsecured debt exceeding $7,500, who face challenges meeting credit card obligations or have exhausted their available credit. An ideal candidate is someone aiming for quicker debt resolution—preferably within one to four years—rather than the prolonged timeframe of 20 to 40 years through minimum payments. By minimizing monthly payments, debt settlement offers the potential to expedite debt clearance. For those grappling with financial difficulties and confronted with a debt load unmanageable within the next one to four years, debt settlement can offer a pathway to reducing monthly payments and achieving swifter debt relief.
On average 50% of your principal balance plus thousands more in interest. All creditors are different, and we must take into consideration factors like your income, ability to save, status of your accounts and types of creditors.
You might have to pay taxes on the total of the debt that your creditors have forgiven, however it is doubtful. For any debt forgiven that is greater than $600, your creditors will send you a 1099-C form. Debt forgiveness is considered income. However, you might not be required to pay any taxes on the forgiven debt if you are insolvent at the time we reach a settlement with your creditors. to have a better understanding of your particular circumstance and any potential tax repercussions. You should discuss any debt that has been forgiven through a debt relief program with your tax advisor.
Complete a budget analysis and debt relief consultation with a certified debt relief specialist. Select your payment amount and date based upon your enrolled debt amount. Then simply save, settle, and live debt free. Schedule a consultation now!
PERSONAL LOANS
Dominion's lending partners have allowed our clients access up to $250,000.00 in unsecured personal loans! Get started today!
Generally, our clients receive funds within 24-48 hours of approval!
Home equity Investments are simply an alternative to tapping into the equity in your property without getting into further debt. Contact us for more information!
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