How does debt settlement work?

Once we have approval from you to go ahead, we contact your creditors and negotiate a settlement. We can usually reduce your debt by 40-70%. Once we receive a settlement letter from your creditor we contact you to make sure that you agree with the settlement. Once you approve the settlement, the creditor gets paid.

What if I am not comfortable with the settlement?

All settlements are subject to your approval, you will be contacted and have the opportunity to approve or disapprove the settlement. If you disapprove of the settlement, our negotiation team will go back in and try to make other arrangements with your creditor. If no amicable arrangement can be made, you go on exactly as before. You have lost nothing in the attempt to try to handle your situation.

What if I can't come up with the funds right away to pay the creditor?

Lifeline Consulting Group will go back to the creditor and see if there is a possibility of a payment over time for the settlement amount, if not, then the settlement will expire and we will have to go back to the creditor at a later date to try to settle with them again.

How does Lifeline Consulting Group, Inc. get paid?

All companies are different so all fee schedules will be different based on the client's needs.

How will this affect my credit?

By reducing your debt you are increasing your credit score, your accounts will show paid in full or settled in full, if no settlement is reached then you will be no worse off than you were before.

How do I get started?

Simply sign and date the forms that were sent to you. If you have not received this information, please call right away and we will send them to you. Fax the forms with a listing of your vendors and their balances to 818.450.0752. You will be contacted immediately, and we will go from there.