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Debt Settlement

Empowering each individual with personalized financial strategies, we are committed to guiding you towards a stable and secure financial future.

What is Debt Settlement?

Debt Settlement is a process by which a debtor negotiates with creditors to reduce and settle their outstanding debts for less than what's originally owed. This can be an alternative to bankruptcy, which might have more severe consequences for one's credit score. It is important to pay off one’s debt as the results of failing to do so can cause major harm to your credit score and future financial security for many years to come.
At Kalm Financial Services, our experienced team works on your behalf to reach agreements that can significantly lower your outstanding balances, offering a viable alternative to other debt relief options.

How it works

01

Evaluation

A debt settlement company, like Kalm, will first assess your financial situation. This includes understanding the total amount of debt, the nature of the debt (credit card, medical bills, personal loans, etc.), and your ability to pay.
02

Enrollment

If debt settlement is deemed appropriate, enrolling in a plan would require you to make monthly deposits into a dedicated savings account. This step is to accumulate enough funds to make a lump-sum payment in the future.
03

Negotiation

Once you've saved a certain amount, the debt settlement company begins negotiations with your creditors. The goal is to convince them to accept a reduced amount as full payment. This might be a percentage of what you originally owed.
04

Settlement

If the creditor agrees to the negotiated amount, funds from your dedicated savings account will be used to pay them. Once the agreed amount is paid, the debt is considered "settled" or "resolved".

Why wait?

Talk to our Debt Settlement specialist today!
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Debt Settlement Benefits

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Reduced Debt Amounts

Potentially lower the total amount of debt owed.
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Avoidance of Bankruptcy

An alternative solution to declaring bankruptcy.
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Manageable Payments

Consolidate payments into a more manageable format.
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Peace of Mind

Reducing debt can alleviate financial stress.