A Debt Settlement Offer is a solution that will allow you to repay what you owe with one lump sum payment.
It is a way to pay your debts off in one large lump sum. This solution could be suitable for you if you have come into a financial ‘windfall’ that could help you to clear off your debts. This could be money from a relative or friend, inheritance, sale of an asset or compensation.
If the lump sum is less than what you owe you may be able to make an offer to those you owe money to pay off what you owe and write of the sum leftover. The money is shared equally amongst all of your debts or you can offer to settle specific debts if you have less than the full sum owed.