Oak View Law Group

A debt settlement program (also known as a debt settlement plan or a debt resolution program) is a legal bill repayment method that helps consumers and creditors avoid bankruptcy.

In this program, a law firm or a settlement company negotiates with creditors on behalf of consumers to reduce their payoff amount, late fees, and fines. Once a creditor agrees to accept less than the total debt amount as full payment, a settlement agreement is signed by both the parties. The consumers pay the agreed upon amount in a lump sum by a certain date, and get rid of credit card bills.