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Debt Settlement
Debt Settlement has the greatest range of applications for consumers, self-employed professionals and businesses. All of our programs are based on the financial capability of the client providing an alternative to Bankruptcy. Debt Settlement provides creditors with an alternative to costly civil litigation, which if successful for the creditor often drives the debtor into Bankruptcy from which the creditor rarely recovers the debt much less the cost of litigation.
Debt Settlement can be used to resolve nearly all unsecured debts over a minimum debt amount as well as certain secured debts. Our programs are flexible and can be modified to accommodate special creditor offerings as well as changes in the debtor's income or expenses without disrupting the program. Although debt settlement is based on the debtor's financial condition, debt settlement programs actually return more net dollars to creditors on average than their own collection efforts or their Credit Counseling programs when factoring in the high failure rate of these programs.
Once enrolled in our program, most of the extraneous communication, document processing and collection activity required of creditors attempting to collect on their accounts is diverted to ADSI so as not to disrupt the household, employment or business of the debtor. During the settlement process creditors will make offers and/or counter offers to ADSI Forecasts.
Settlement agreements are reached based on the availability of debtor funds and as long as they don't out-perform the financial capabilities of the debtor. All creditors eventually settle some faster than others depending on their individual policies and strategies. Some offer lower settlements for earlier payoffs fearing that the debtor may file bankruptcy. Other creditors hold out longer hoping for a larger settlement. Most tend to fall between the two.
Settling accounts with creditors may include single lump sum payments or restructured monthly payments lasting from one to five years. Creditors are allocated a portion of the debtor funds based on the creditor's percentage of the overall debt that the creditor holds at the time the debtor enrolls in our program. The debtor can become "debt free" in a relatively short period of time with their accounts reflecting "paid-settled" or something similar.
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