Many consumers who have found themselves amidst a financial hardship will explore the vast array of debt help and debt solutions that are available to people that need to resolve problems with financial obligations to their creditors.
One of the more popular solutions is known as debt settlement.
Though almost everyone has at least heard of debt settlement, many people are shocked to find out that to obtain a debt settlement agreement one needs to have a rather large and substantial amount of cash to offer the creditor.
Why do you need a mountain of cash to settle?
Think about it. Your lender is willing to eliminate a large portion of the outstanding debt on your account.
Why would they do that for another monthly agreement?
They won’t. They tried that. What they are going to want is certainty. They want cash.
Cash now is worth much more then the same amount of cash 10 years from now. Cash today is also much less risky then the promise of cash tomorrow.
More on Debt Settlement
I have another article here on this site that outlines three key principles of debt settlement. If you want to explore debt settlement further then I suggest that you take a look at it.
You can also find articles on this finance blog.