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What happens during debt settlements ?

Debt settlement companies work on your behalf in renegotiating repayment terms, time scales and debt amounts. They attempt to reach agreement on a revised figure with more manageable payment structures based on your specific financial situation.

Why Choose Debt Settlement?

Debt Settlement Benefits

Buys you
more time

We deal directly with creditors and their attorneys to negotiate extended payment periods meaning that you spend less time worrying.

Allows you to focus
on your business

Letting us deal with everything from debt repayment (on your behalf) to attorneys and collection calls, allows you to invest your valuable time in your business once again.

Saves you and your business money

We can help cut your debt by up to 40% (30% average), potentially saving you or your company many thousands of dollars.
Buys you
more time
We deal directly with creditors and their attorneys to negotiate extended payment periods meaning that you spend less time worrying.
Allows you to focus
on your business
Letting us deal with everything from debt repayment (on your behalf) to attorneys and collection calls, allows you to invest your valuable time in your business once again.
Saves you and your
business money
We can help cut your debt by up to 40% (30% average), potentially saving you or your company many thousands of dollars.
Previous
Next
How Does Debt Settlement Happen?
Step 1

Protect Your Assets

Legally strong creditors can obtain your assets with the help of the Law.
Ideally safeguard your assets before directly confronted by creditors.

Transfer assets out of your name.
Eg: Real estate, Vehicles and Bank Accounts, in order to make them less accountable to claim by creditors against your debt settlements.

Step 2

Save & Build Up Wealth

Goal here is to calculate, save up and gradually build your wealth.
This money you save is strategically used towards the payment of settlement dues and attorneys.
Thus helping you avoid judgments (not a get out of jail free card) and any fees incurred from it.
Step 3

Avoid Judgements

Some business owners receive constant threats of lawsuits from creditors. A court ordered judgment give creditors the right to seize property, levy bank accounts and garnish your wages.
Fear not! On average 15% of debtors are are most likely to be sued. If you still end up facing charges, hire an attorney and pay the retainer using the funds you have been saving. You’re a lot likely to save more this way.
Step 4

Settle Your Debt

Goal here is to calculate, save up and gradually build your wealth.
This money you save is strategically used towards the payment of settlement dues and attorneys.
Thus helping you avoid judgments (not a get out of jail free card) and any fees incurred from it.

Take our quick prequalification test now!

Get your precious business out of debt today.
We can help! Check your eligibility by taking our quick pre-qualification test NOW and figure out options to save your business. It won’t take more than 5 minutes…

Check your Eligibility
Check your Eligibility

Frequently Answered Questions

What types of debts qualify for debt settlement?
Our debt settlement program can help to settle a wide variety of debt problems, but not all debts can be settled.

Merchant Cash Advances, Business Credit Cards, Vendor Debt, Business Loans.

Most debts are categorised as either secured or unsecured debt.

Unsecured debt often takes up a significant portion of a business's overall debt. The good news is that it can be resolved as part of a debt settlement program.

If the debt is based on collateral such as a truck, house or piece of property; it is considered a secured debt. Specific examples of secured debt include a mortgage or truck loan. Unfortunately, this type of debt cannot be settled easily because the creditor can simply relinquish the asset in order to recover the funds. Once the collateral is recovered, a creditor will look to recover any deficiency, which we can settle.
Where will my money be held during the settlement process?
While you are contributing to your debt settlement program, your money will be deposited into a third party account that you have full control over. It will be securely held at an FDIC insured bank
Your money in reserve will be used to pay your creditors, either in lump sum after you've accumulated enough to do so, or paid monthly, in a structured payment plan.
What is the difference between debt settlement and bankruptcy?
While bankruptcy is an option to deal with debt, it can have the most negative effect on your credit report. Debt settlement can still impact your credit due to delinquencies and settling for a portion of the full balance, but it is far less than the long-term impact of bankruptcy.
With a Chapter 11 (which has only a 10% success rate), you often end paying the full amount since the debts are set over a 5 year period.
How do I know that debt settlement will work for my situation?

The first qualifying factor is that you are falling behind on credit payments, most often caused by a financial hardship or unexpected event.

Debt settlement is meant for when you are unable to pay creditors in full and also those who are looking for an alternative to bankruptcy.

In some situations creditors or their attorneys will not negotiate a reduction. In these cases we negotiate a payout plan within your budget.
Why choose American Express Settlements? Why not just call the creditors myself?
Calling the creditors yourself can be time consuming and stressful. American Express Settlements has 10+ years of experience in debt settlements. Our program providers have long-standing relationships with MCA companies, collections companies and law offices. With that said, you can trust that with the program, you will get the best possible settlement, while you can focus on growing your business.
Am I able to choose which accounts are included in the debt settlement?
Yes, absolutely, it is completely your decision which debts you would like to resolve.
What happens if a creditor files a lawsuit?
American Express Settlements has an Attorney Network of 500+ local attorneys that handle all legal motions, as well as aid in the negotiations of your debts.
What happens to my credit?
How is your credit now? Chances are it is already in trouble. At this point, American Express Settlements will be improving your credit rating by paying off the delinquent debt.
Is American Express Settlements associated with American Express?
American Express Settlements is NOT associated with American Express in any way.

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Call +1 202-389-9017

info@americanexpresssettlements.com

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3015 Arthur Kill Rd
19309 New York, New York, USA.

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