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Not just for Laymen
The Debt Consolidation Care Community [DCCC] has developed a financial infographic on the debt settlement process.
For the DIYers
This interactive infographic helps understand what happens in a DIY debt settlement when the debtor successfully negotiates a reduced payoff amount with a creditor.
Reviewing the graphical representation will also help know how a debt settlement company can help a debtor when he/she cannot settle debts on his/her own. The settlement company can negotiate with creditors to reduce the payoff amount and decide upon a single monthly payment that has to be paid to the settlement company every month. When enough accumulates, the settlement company pays the creditor the payoff amount as per agreement, and the debt thus gets settled.
Assessment
Debtors often ask questions in DCCC forums regarding what actually happens in debt settlement.
So, the primary reason behind this finance infographic is to clear misconceptions regarding the debt settlement process. This graphical representation can make it easily understandable for the many debtors who are looking for suitable solutions to solve their debt problems; not just medical professionals.
Source: www.debtconsolidationcare.com
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Filed under: Financial Planning, Funding Basics | Tagged: DCCC, Debt Consolidation Care Community, Debt Settlement Doctors, doctor debtors, Physician Recruitment | Leave a comment »
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