Debt Settlement

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At Vida Debt Relief, our number one priority is the complete settlement of any outstanding credit card balances and most unsecured financial debts. We can provide reasonable and strategic solutions aimed to potentially lower the total amount owed, decrease interest rates or waive late fees and other charges. A settlement is one of the most effective methods of debt relief, however, it is not always the easiest as it requires patience and dedication once committed to a program. Below you’ll find some helpful tips and information to help you determine if a settlement is the right option for you.

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The Key To A Successful

Settlement

Keep personal records of all correspondences between creditors, debt collectors and yourself. We also encourage you to keep track of communications between your personal debt representative and your creditors to ensure you stay updated on the progress of your settlement.
When corresponding over the phone, be sure to record the time, date, name, employee I.D # and all matters discussed.
Be Patient. The longer your debt has gone unresolved, the more eager OR hesitant creditors may be to settle. It all depends on your financial ability to pay. It can take some time to determine if resolving your debt is in their best interests. Alternatively, they could determine it is best to stick with their original agreement until you can pay or your financial standings change.

Before Enrolling

Keep in Mind

Debt Settlement Is Not A Right – Every U.S citizen who has the right to apply to debt relief programs, such as Vida Debt Relief However, being granted the option to settle your financial debts is not a consumer right by law.

Creditors Do Not Like To Settle – Creditors’ main goal after lending you funds, is getting paid back in full or with interest, if possible. Payment history and current financial status will heavily weigh on their decision to resolve. If they feel it may be in their best interest to wait for your financial situation to improve, they are not interested in negotiating new terms

Creditors Are NOT Required To Settle– While the law requires creditors to be open to your attempts of settling your debt, they also reserve the right to decline your new terms of a settlement. Fortunately, our skilled team of representatives are trained and ready to begin negotiating on your behalf, to deliver realistic solutions all parties can agree to.

While all of the above statements are true, you have to remember that you have what your creditors want – money. Here are some tips to succeed in debt settlement – even after the creditor said NO the first time.