Services
Full and Final Settlement
If you’re struggling with debt, a Full and Final Settlement may be the right option for you. At Credit Fixx, we specialise in assisting individuals like you in finding practical and customised approaches to debt resolution. Before proceeding with this option, it’s essential to assess your financial situation thoroughly, understand the terms of the settlement, and explore alternative options. Remember that resolving debt is a significant financial decision that can have long-term consequences, so approach it thoughtfully and responsibly.
What is a Full and Final Settlement?
A Full and Final settlement is a financial arrangement where we can negotiate an agreement with your creditors to settle your debts by offering a reduced lump sum, instead of paying the entire outstanding amount.
In many instances, we can pause the accrual of interest and your debt repayments for a specific duration, enabling you to accumulate the necessary funds for settling with your creditors.
This approach is also a viable solution if you’ve come into a windfall or if a friend or family member is willing to contribute the lump sum.
How Does it Work?
When opting for a Full and Final settlement, the skilled experts at Credit Fixx will collaborate closely with you to evaluate your complete financial situation and create a customised strategy. Subsequently, we will initiate discussions with your creditors on your behalf, seeking their approval for the adjusted terms.
Is An Informal Agreement Right For You?
While a Full and Final settlement offers many advantages, it may not align with everyone’s financial circumstances. At Credit Fixx, our committed experts will conduct a detailed evaluation of your financial situation and explore all viable alternatives. We aim to deliver comprehensive guidance, ensuring you gain a clear understanding of the advantages and potential consequences before you decide.
BENEFITS OF FULL AND FINAL SETTLEMENT:
- No impact to your credit score: Opting for a Full and Final settlement won't harm your credit report or score. It provides you with the opportunity to reclaim your financial independence.
- Reduce debts by up to 95%: Our experienced team will handle negotiations with your creditors on your behalf, and in certain instances, we can help you reduce your debts by as much as 95% through our negotiations.
- Stop interest and fees: When you enlist our services, we reach out to your creditors to halt interest and fees if you are facing financial challenges.
- No effect on your employment: Full & Final Settlements has no impact on your employment status and remain unlisted in your credit report.
- Debt Reduction: Through our negotiation process, we aim to decrease your total debt burden. By obtaining consent from your creditors to accept a reduced payment, you have the potential to achieve substantial cost savings and restore a pristine credit history.
- Get rental property: When applying to rental agencies, you may be asked if you are currently under any insolvency proceedings. It is important to note that Full & Final Settlements do not impact your eligibility to rent.
Contact Credit Fixx today to schedule a consultation and take the first step towards a brighter financial future. Let us help you regain control of your finances and embark on a journey towards debt freedom.