What Is Debt Settlement?
Debt settlement (also known as a debt settlement program, debt negotiation, arbitration, or debt forgiveness) is a program that is designed to help you save as much money as possible, as quickly as possible, based on your unique financial situation. Hassan Group has an in-house performance based debt settlement program. This means that if you qualify for this program, you will only pay fees to Hassan Group as each one of your accounts is resolved and you ACCEPT the resolution. The program also has integrated creditor defense to maximize the capture of creditor violations which could result in better settlements and/or cash rewards for clients.
There are many factors that come into play in the debt negotiation process in order to get you the best possible reductions. These factors include the age of debt, type of debt, your income, the state you live in, your age, and many other factors.
Hassan Group has one of the most experienced teams in the industry. Starting in 2000, the founders of Hassan Group were helping individuals locally in California. In 2005 Hassan Group was formed to help individuals and small business owners nationwide.
Hassan Group is licensed and bonded in numerous states with a physical office in Hollywood, Florida. If you are in the area, call ahead of time and schedule a face-to-face counseling session.
Experience is extremely important because it means you get better results, a smoother process, and that the company is going to be around for the life of your program and beyond.
Debt settlement works by your placing an agreed to amount into a special purpose account on a monthly basis. If you have a lump sum amount to get started, or have access to a lump sum, it would accelerate the speed of the program.
As money accumulates, Hassan Group starts working the FDCPA and TCPA violation process. What this means is that, using the debt collection laws, the Hassan Group team does everything possible to identify violations on behalf of the creditors or collectors. Violations that are pursued and won have resulted in as high as 5-figure cash awards for the client as well as dismissal (100% reduction) of the debts.
This element of the program is extremely important and all the internal processes are designed around making this happen. Keep in mind that no company can promise you will get your debts dismissed, but Hassan Group does everything possible at each step of the program to make it happen, and results have been phenomenal and getting better daily.
For the remaining debts, the extremely experienced in-house Hassan Group negotiations team finalizes resolutions with the creditors one at a time with the goal of saving you as much money possible on each account as quickly as possible. As each offer is near to be finalized, you will receive notification to approve it. Once you approve, the account is settled in full and only then are Hassan Group fees paid. The process continues until all the accounts are resolved.
There are two types of debt consolidation. One type of debt consolidation is a debt consolidation plan that you would get through a credit counseling agency, which normally helps bring interest rates from the 20% range to about 8-10% on average. In comparison, debt settlement is a program where the amount paid back is the lowest negotiated amounts off the balances, so it is designed to save you much more money than just adjusting interest rates.
The second type of debt consolidation is a loan, either secured or unsecured, where your debts are combined. In this, you are paying a new loan, often with the loan origination fees incorporated as well as interest. In the case of a loan where the collateral for the loan was property or something you own, the risk is that the item can be repossessed if the loan isn’t made on time. In comparison, by negotiating on your balances, debt negotiation is designed to save you as much money as possible without linking the debts to your property.