Debt Settlement CalculatorThe Debt Settlement Calculator tool will help you determine how much you can expect to save with a debt settlement program and how much you can expect to pay to settle the outstanding unsecured debt that you have. Unsecured debts include debt such as credit card debt, personal loans and medical bills. Examples of debt that is considered secure debt include mortgages, auto loans, and home mortgages.
To make use of our debt settlement calculator, simply enter your outstanding unsecured debt in the Add Credit Card Debts field. Add the dollar amount of any installment loans in the Add Installment Loans field. Our debt settlement calculator will automatically calculate what you can expect would be an agreed upon settlement for your outstanding unsecured debt would be. This particular debt settlement calculator will also provide your estimated savings if you choose to enroll and take advantage of a debt settlement program.
The amounts calculated are estimates. Actual savings realized can be influenced by many factors including the total amount of debt owed and the status of the debt, i.e. if you are current or presently behind on your payments. Creditors may be more willing to agree to a negotiated, reduced settlement if you are behind on your payments and/or experiencing a financial hardship.
Our debt settlement calculator is a first step towards resolving your debt situation. The next and logical step is to take advantage of our free debt analysis. A caring and professional debt counselor will discuss the particulars of your situation and help you determine if you are qualified and a good candidate for a debt settlement program. The counseling session is free, confidential, and there’s no obligation.
The typical benefits of a debt settlement program include lowering your monthly debt payments, having more money freed up that you can use towards other expenses, eliminating collection calls, avoiding bankruptcy, and having only one monthly program payment to make and manage. The debt settlement calculator is helpful. The fact is that debt settlement can be a smart and wise option for a person to lower their debt and achieve debt freedom in a way that is fast, proven to work, and avoids bankruptcy in the process.
In addition to the debt calculator, what are some other basics of debt settlement that you should know? For starters, debt settlement is a process whereby your outstanding unsecured debts are negotiated with your creditors. Only unsecured debt can be negotiated in a debt settlement program. Federal student loans, auto loans, and home mortgages are types of debt that cannot be included in a debt settlement program. Another important fact to note is that debt settlement is reserved for consumers who are suffering a true financial hardship. Having a secure job with a stable income and wishing to no longer make credit card payments is not a reason to consider debt settlement.
The debt settlement calculator can give you a brief insight into what you can expect to save. Another important fact to consider is this: debt settlement programs are for people who have $10,000 or more in unsecured debt. Persons with less than $10,000 in unsecured debt would however most likely be candidates for credit counseling or debt consolidation loan program. These types of programs can address interest rates and fees, but do not settle accounts for less than the original amounts owed.
If you or someone you know is however struggling with $10,000 or more in unsecured debt, than debt settlement is a safe and viable option that you should explore further and consider. A free debt analysis can shed additional light on how much you stand to save. A debt counselor can discuss in further detail the pluses and minuses of debt settlement. Then it's simply a matter of deciding if achieving debt freedom in your lifetime is right for you. The savings are considerable. The low monthly program payments are designed to work within your budget. And the peace of mind of getting rid of debt once and for all is priceless.
We hope you have enjoyed the debt settlement calculator. It’s important to note that debt settlement is also known in some circles as debt arbitration, debt resolution, and debt negotiation. These are various names for the same settlement process. The savings incurred are often in the 50% range yet results may vary. So what are waiting for?
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