What to expect:

After a debt is settled, the creditor typically sends out a letter saying that the obligation was paid and informs the big three credit bureaus about the fulfilled obligation. This can help to repair damaged credit scores and allows the debtor to begin to rebuild their financial health. Debt settlement specialists are trained to help with this process by educating the consumer about money matters so that the cycle is not repeated.

Debt settlement specialists are debt and credit professionals who facilitate debt settlement programs for consumers who are overwhelmed with massive unsecured debt or who are considering bankruptcy as a last option. Creditors are often willing to accept less than the original balance during debt settlement because they realize that less money received is better than no money received if the debtor chooses to file for bankruptcy protection. Creditors know that they are far more likely to receive payment of any level by allowing for a lower total payment. Debt specialists develop relationships with creditors and use this connection to the consumer's advantage.

Bankruptcy will stay on your credit report for up to 10 years. With Silver Bay Financial, Inc. you could find an alternative to bankruptcy and your debt could be reduced. Best of all, once your creditors accept our settlements, the amount will be as payment in full, making you debt free without having to suffer the longer-term financial, emotional, and social impacts of a bankruptcy.