Debt Settlement

Debt Settlement has been around for decades and is an effective way to reduce your principal debt amount by up to 50-60% depending on who you owe the money to.

The Truth About

Debt Settlement

First and most importantly Debt settlement is meant only for consumers or businesses who have a legitimate financial hardship. A financial hardship is simply when you have experienced an event such as a loss of income, loss of job, divorce, business failure, or medical issue which has made it impossible for you to make your monthly minimum payments without sacrificing your basic needs like, food, rent or transportation.

In these financial hardship situations, bankruptcy is the most common course of action. Unfortunately, unsecured creditors like credit card companies will likely not recover a cent of what is due to them in bankruptcy proceedings, and the consumer will ruin their credit worthiness for years. Remember that employers, renters and many services ask if you have EVER filed for bankruptcy  Although it may not be reported after 10 years, it can impact your life for far longer.

So what’s it take?


  • Financial Hardship

  • Unsecured debts totaling over $10,000

  • Ability to pay at least 50% of current payments

These are some of the qualifications for debt settlement. We can help you figure out if it will work for you.

It’s An Alternative

to Bankruptcy

Instead of filing for bankruptcy you can work with a team of negotiators who work out a reduction of your debt directly with your creditors. In short, we present to your creditors your financial hardship situation and negotiate with them to reduce your debts so that you can pay at least a portion of your debt to them. In this resolution, creditors recover some of what they’re owed and you don’t have to go through bankruptcy. By negotiating a debt, the creditor receives at least a portion of the debt due to them. With a bankruptcy, they’d get nothing.

Bright Credit offers a free, honest consultation to discuss your options.

Our team of experts have over 20 years’ experience, and have helped thousands of consumers and businesses get free of debt including student loans, medical bills, unsecured credit card debt, and more.

We’re consumer advocates offering a free, confidential consultation to provide answers to any debt, private student loan, or credit question  you may have.