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Debts qualified for debt settlement program include credit card debts, medical bills, collection accounts, unsecured bank loans, personal loans, repossessions, and non-federal student loans. However, student loans, car loans, mortgages, secured loans, utilities, IRS or tax debt, child support or other lawsuits are not qualified for the debt settlement program.
Debt settlement is an extremely useful method to go about repaying all those credit cards and personal loans. You will be debt free in about 12 to 36 months depending on how your debt is structured.
As a rule of the thumb, debt settlement allows the debtor to repay the current outstanding debt amount in an average period of 12 to 36 months. If the debtor does not opt for debt settlement, he might as well end up repaying those debts for the next 20 to 25 years.
Debt settlement can save a debtor thousands of dollars and years of payments, at an impressive zero percent rate. The debtor can clear off the debt faster and the repayment amount can be reduced by as much as 50 percent. The best thing about debt settlement is that it provides a viable solution to bankruptcy as a result of which the financial reins and controls of your business and life are again back into your own hands.
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