What? Settle My Debt for Free? – Absolutely!


During an economic crisis many people find their personal financial status changing for the worse, causing them to be unable to pay their debts and needing a way to restore their financial peace of mind.  In the past, many consumers sought – and paid for – the services of debt settlement company.

Fortunately, today there is a great – No Fee – way to negotiate and settle your debt through SettleiTsoft®, a free web-based automated debt negotiation software platform that allows debtors and creditors to negotiate electronically, which immediately stops harassing collection calls and any predatory collection practices.


The kinds of debts you can settle are called “unsecured” and include unsecured credit cards (the most common), medical bills, gas/store charge cards, personal loans, etc.  Tax debts, alimony, child support, mortgages, car loans and federal student loans typically cannot be settled in a commercial debt settlement program.  However, while oriented toward credit card debt, the SettleiTsoft® system platform may be utilized to communicate with any creditor and commence the debt negotiation process.

Check it out.  This software is new and has never been available before.  The best part:  it may not cost you a cent to resolve your debt crisis.

If you are thinking about retaining a debt settlement company be aware that like any type of business, some debt settlement companies are good and some are bad, so do your research before hiring one.

Under the new FTC rules issued in 2010, most settlement companies cannot charge an
upfront fee for their services (some attorneys, for example, are able to work around the regulations based on the services they provide).  The typical debt settlement company can only collect after they have successfully negotiated, settled or reduced at least one of the debts you owe and there is a written settlement agreement between you and your creditor(s).  You also need to have made at least one payment to your creditor under the negotiated agreement.

In Illinois, for example, the upfront fee is capped at $50 and the total fees should not exceed 15% of what you saved under the settlement program.  Check to see if your state regulates these fees or other debt settlement operations.  Without a cap, the fees you pay will depend on how much you owe, the number of debt accounts you have and how much you save by settling.


It usually takes about 1-4 years to complete a debt settlement program, although that can vary depending on your total debt amount.  In all states, should you default on the settlement agreement, you can be sued to collect the settlement amount.  So, it is very important that you honor your settlement agreement and pay your bills on time.

When choosing a debt settlement company, you need to first check the profile and service background of the Debt Settlement 2companies you are considering and choose the one that best suits you.  Next, you want to make sure the company maintains certifications such as their Better Business Bureau report.  Also, check out the settlement company with your State Chamber of Commerce and Consumer Protection agencies.

Once you find reputable debt settlement companies, make sure you understand what the companies charge.  Fees should only be paid after the work is done.  Compare fees and choose the company that best fits your needs.  Last, look for testimonials and feedback given by past debtors.  You can also ask friends and associates for references for reputable debt settlement companies.  If the company is unable to settle your debt, you should not have to pay a fee, or your fees should be fully refunded.  Don’t accept anything less than a full 30-day money back guarantee.  Try to find out how long the company has been in business and some proof of their experience.  Always use due diligence and common sense.


Or you can save yourself all that research time and avoid the expense of a debt settlement company by electronically communicating with your creditors directly through the free debt negotiation software found at settleitsoft.com.

Debt settlement has its pros and cons, but it can be an effective way to get you on the road to being debt free.  Using the tools and intuitive power of SettleiTsoft® makes it that much easier and, of course, it’s free!

Please Note:  This information is for educational purposes only.  For specific advice, please contact a qualified professional.

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