When your business debts are piling up and you are in serious trouble, you must be spending sleepless nights worrying about your financial problems and critical business scenario. If your debt burden seems to be getting out of hand, it is best to opt for an effective debt relief measure. Some of the alternatives could be debt consolidation, debt settlement, business credit counseling or finally, filing for bankruptcy.

Debt settlement could be an effective way of getting rid of business debt when no other alternatives seem to work and you are desperately trying to save yourself from filing bankruptcy. Debt settlement involves a reliable company that provides debt relief simply by effectively negotiating with all your creditors and coaxing them into coming to an agreement to accept a lesser amount than the total amount actually due. Debt settlement is definitely not without risks and pitfalls. Let us explore the frequently asked questions before opting for debt settlement.

What is Debt Settlement?

Debt settlement is often referred to as debt negotiation or even debt arbitration. This type of debt relief had originated as a response to the Great Recession which had left several people unemployed and even underemployed. You simply need to work with a reliable debt settlement company that would do the negotiations with your creditors and offer lump-sum payments for settling your debts but definitely for far less amount than the outstanding balance. Debt settlement is a debt relief method where your creditors or lenders would be accepting less money than the amount you actually owe yet they would be treating the debt as fully paid and the matter as closed.

When Does Debt Settlement Make Sense?

There are a few specific situations when debt settlement would definitely make sense. Here are some such circumstances:

  • You are unable to pay your bills.
  • You are having unsecured debts.
  • You are in a position to repay in case your debts are slashed.
  • You are considering filing for bankruptcy.
  • You seem to be at least five to almost six months behind as far as the payments go.

How Does a Debt Settlement Company Benefit from Helping Me?

A debt settlement company would be negotiating with your creditors and help in reducing your obligation to an affordable amount. For doing this properly the debt settlement firm would require reviewing your entire financial situation including all financial statements and documents. This implies that they would be examining your credit card balances, bank statements, asset reports, and other relevant documents. Then the debt settlement firm would be well-equipped with all information to effectively negotiate with your creditors on your behalf for lowering the amount to be repaid. In such a situation, the debt settlement firm would be making money simply by charging a substantial fee for all the services provided by them. Generally speaking, the fee is determined in terms of a percentage of the actual amount by which your debt load has been lowered. You could browse the Internet for debt settlement feedback from customers so that you could make the right decision.

There is absolutely nothing illegal about the entire debt settlement process. In reality, it is one of the hot favorite debt relief measures. But sadly, there are a few scammers who try to take away your money promising to help you erase your debts but they end up delivering nothing as expected. However, most of them have already been compelled to shut down as they failed to comply with the existing federal and state laws.

Why Would the Lenders Accept My Debt Settlement Offers?

Lenders could be coaxed into settling debts once they start believing that you would opt for bankruptcy if the debt settlement offer is declined. Companies holding unsecured debts would fully understand that if you opt for filing bankruptcy, they would end up getting nothing. Your lenders are very smart they can appreciate that your finances are in doldrums and you may be compelled by circumstances to consider filing for bankruptcy. In such a case, your creditors stand to lose everything. They would consider debt settlement as that is a much better option left to them as they would be getting back a substantial portion of the amount you actually owe.

What Are the Drawbacks of Debt Settlement?

As per https://www.huffingtonpost.com, debt settlement is certainly not without cost. Debt settlement could end up damaging your credit score and you may not be in a position to opt for a loan in future. Moreover, some debt settlement agencies ask their clients to completely stop disbursing their bills while the debt negotiation process is on. This practice could prove to be hugely detrimental to your financial health as it could culminate in debt collection efforts, late penalties, and even lawsuits. All these repercussions would be adding to the expenses. Ultimately, any reduction in your debt load actually is supposed to be taxable. For instance, suppose you are having a debt of $1000 and you settle for just $500 then you must report an extra $500 in terms of taxable income during your future tax return.

What is the Biggest Benefit of Debt Settlement?

The greatest benefit of debt settlement is your debts would be reduced substantially and you would not be harassed by the collection calls any longer. Moreover, another big advantage of debt settlement is that it can help you in avoiding the risks and hazards associated with bankruptcy that could prove to be really severe.


You can opt for debt settlement provided you are good at negotiating or you have hired the services of a professional debt settlement company for understanding the complex legal documents. You must have readily available cash for paying the lump-sum. The amount of cash you have is supposed to be the key bargaining tool. Once the lender accepts your offer of a diminished amount, you must organize the money for immediate payment. You must get in touch with an experienced debt settlement company and you need to necessarily examine the credentials of a debt settlement company and then hire their services.

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Do Apps Still Make Money? Here is What 6 Developers Think

The app market is extremely saturated. But the mobile market is still gathering momentum..fast. Mobile apps have changed how we work, live, connect and what we do for entertainment. Mobile apps will continue to shape the thoughts consumers, small businesses, enterprises, and even the government.

Forrester expects that more than 25% of companies will use mobile not as a channel, but as a fully integrated part of their overall strategy. They believe 2016 will be the most consequential year for companies on the path to customer obsession, and that includes adapting empowered customers who expect to get anything they want immediately, in context on their mobile devices.

There is still a lot of demand for apps. Mobile apps have evolved beyond providing just information. Artificial intelligent and voice-based personal assistants are inspiring conversational and smart apps.

But most app developers are struggling to get attention. Majority of app developers don’t get rewarded for their efforts. Most apps don’t generate profits but serve as an extension of an existing business. And he vast majority of apps are free.

In-app purchases and advertising allow app creators to make money off their free apps. There are only few hits though. Here is what some redditors think about the prospects ofaunching an app.

1. kevinbracken

Absolutely, yes they do. I sold my fitness app last year to a larger company, and know many people whose app-based companies are making money.

However, the thing that many people fail to realize is that you are not building “an app,” you are building a business, and mobile is simply the fastest-growing channel in the world. You can do your own research but in the not-so-distant future, mobile will make up the vast majority of all web traffic and online sales.

To answer the second part of your question, if you have limited resources, absolutely target iOS. Notice how when new, serious companies with venture financing and previously successful founders start companies, they launch iOS apps first. Reasons:

  • iOS users download more apps
  • iOS users spend considerably more through their phones
  • iOS users know they are iOS users. Don’t underestimate the importance of this: many Android users simply buy the cheapest phone and don’t spend much time thinking about downloading apps, would never put their credit card number in a phone, etc.

2. austincha

I created some apps for both the App Store and the Google Play store. The App Store is strict on the quality of apps they allow to be uploaded, so I then just focused on Android apps. I made simple games and even some Live Wallpaper apps. My best games only made a couple hundred dollars and the LWPs made about a hundred.

I’ve stopped creating apps because the payout wasn’t worth the time and effort I put into coding the apps. I’ll have to say 99% of the app developers out there are not making money for the time and effort they put into the apps.

3. ZeikCallaway

Android developer here. As others have pointed out, apps can still make money, but the days of just having an app for money are pretty much over. Apps become exponentially more powerful, and likely to be used if they’re complimentary to a bigger software or service.

Also when deciding Android vs iOS, if you can, you should target both because they’re pretty even as far as market share. If you had to pick just one to start, I can’t tell you which is better but from my perspective and experience, Android seems to be gaining more market share albeit very slowly but, iOS will have a more consistent experience.

In other words, some Android devices may not work with your app the way you expect, so even they do take a strong lead over iOS devices there will still be a number of them that have problems.

4. RPN

Of course they still make money. Actually now more than ever as every year the worldwide app revenue grows exponentially. AppAnnie predicts that gross revenue across all app stores will eclipse $100 Billion in 2020.

The problem is that it’s now more competitive than ever. For an independent developer it is getting increasingly difficult to make a living building apps.

5. EatSafeUK

A lot of people have a weird view on apps as if they are magical no effort cash cows. But you have to see it for what it is, simply a distribution platform.

Can you build an app, throw it out there and effortlessly get millions of downloads and rake on money? No.

But if you are developing a solution to a problem that is best served with mobile then an app is appropriate. My research for my current project showed that the problem was biggest when people were out and about, so a mobile app works best.

But it’s just the distribution method. The rest of the business is the same as before; you need to identify customers, you need to effectively promote, you need to push yourself in front of people.

The app store is too saturated to expect to be discovered there. But just like a real store, the brands on the shelves do everything they can to get you to want to buy their products before you ever get through the door. Its the same in the app world.

iOS does seem to have a less price sensitive user base though, so if you want to charge for the app they’re the best people to target.

6. the_brizzler

They haven’t died down. It is just harder for the average guy or gal to make sure it is discovered. Sort of like websites…anyone can build a website…but how do you get visitors?…well that takes some marketing and strategy.

There are plenty of people making a decent living making niche apps that serve a specific purpose. But if you are trying to make a flashlight app…forget about it…apple won’t even let you publish it since there are already too many. So you just have to be smart about what you make and how you get people to find your app.

Related: 6 Easy Steps to Get Funding for Your App Startup

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