Wednesday Jan 17, 2024

SPENT Law Group Pennsylvania - SPENT Law Group - (855) 332-8457

SPENT Law Group acts as a staunch legal advocate for Pennsylvanians battling with debt. We are set on delivering clear and sympathetic legal guidance to clients seeking to make sense of and handle their debt situation. Our legal team brings a combination of professional acumen and heartfelt support to aid individuals in their quest for financial renewal.

How does debt settlement differ from debt consolidation?

Debt consolidation means bringing together all your existing debts into one, often with a reduced interest rate, and agreeing to pay off the full amount. Meanwhile, debt settlement is about setting aside money each month into a specific account, which can later be used to arrange a one-time payment that's usually smaller than what you owe.

Could debt settlement negatively affect my credit?

Your credit score might experience a small drop if you go for debt settlement. Even though this may initially cause some worry, actively working to settle your debts can pave the way for quicker credit improvement compared to persistently missed payments or the long-term impact of bankruptcy.

What motivates creditors to agree to settle a debt?

Creditors focus on profit maximization. When regular minimum payments stop, they lose revenue. Debt settlement allows them to mitigate this loss by writing off the account, which they can use for tax offsetting purposes.

SPENT Law Group

1000 Northbrook Dr Suite 100 Feasterville-Trevose, PA 19053

(855) 332-8457

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40.997589939053, -77.74391252934824

42RQ+X3 Feasterville-Trevose, Pennsylvania, USA

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