Welcome to Senior Debt Relief Network

Our non-profit organization is dedicated to helping seniors like you manage and settle debt for free. We're here to empower you with knowledge and support to achieve financial freedom.

What is Debt Settlement?

Debt settlement is a helpful process where you negotiate with your creditors to pay off your debts for less than the full amount owed. This can reduce your overall debt and help you get back on track, especially during financial challenges. As a non-profit, we provide this information freely to support your journey to stability.

How Does Debt Settlement Work?

You can save money in a dedicated account while working toward a settlement. Once ready, you negotiate a lower lump-sum payment. Forgiven debt may be taxable, and it could temporarily impact your credit. The great news is you can handle this yourself without extra fees.

Creditors often agree to settle to recover funds quickly.
It works well for unsecured debts like credit cards.
Be aware: stopping payments might lead to additional fees or collections calls, but persistence pays off.

Step-by-Step Guide to Settle Your Debt Yourself

As a free resource from our non-profit, here's a simple guide designed for seniors. Follow these steps easily on your mobile or computer—we're rooting for you!

Assess Your Financial Situation: List your debts, including amounts and creditors. Get your free credit report at AnnualCreditReport.com. Start saving in a separate account to build toward 50% or more of what you owe.
Learn Your Rights and Creditors' Policies: Review the Fair Debt Collection Practices Act (FDCPA) for protections. Check creditors' settlement options online or by phone.
Contact Your Creditors: Share your situation, like living on a fixed income. Offer a reduced lump-sum or payment plan. Focus on reducing the principal—stay positive and keep trying.
Negotiate and Get It in Writing: Secure a written agreement with all terms, including payment details. Review it carefully before proceeding.
Make the Payment and Monitor: Complete the payment as agreed. Then, verify on your credit report that the debt is updated as settled. Keep records for potential tax purposes.

Tip for Seniors: Prioritize essentials on your fixed income. Reach out to non-profit credit counselors like us for extra encouragement.

Happy senior couple celebrating financial freedom

Pros and Cons of Debt Settlement

Pros:

Reduce debt by up to 50% or more.
Avoid more drastic options like bankruptcy.
Completely free when you do it yourself—keep your savings.

Cons:

May temporarily affect your credit score.
Possible taxes on forgiven debt.
Not every creditor will negotiate, but many do.

As a non-profit, we encourage you to consider this empowering option. Our free consultants can help you decide if it's right for you.

Contact Us for Free Consultation

Ready for support? Our non-profit team offers free guidance to walk you through every step. Schedule a convenient time below.

Name:

Email:

Phone:

How much credit card debt do you have?

How many credit cards do you have?

Monthly Income

Preferred Time for Consultation

Message:

Thank You!

We will call you within 15 minutes to discuss your free consultation.