Debt Settlement Program

Debt Settlement, also known as debt negotiation or debt arbitration, is a private service that is now available to Canadians as an alternative to bankruptcy, consumer proposals, credit counselling and debt consolidation. Unlike Credit Counselling, Debt Consolidation or Bankruptcy, Debt Settlement in Canada provides you with an arbitrator that negotiates with your creditors, and settles your debts for a one lump sum payment that is substantially less than what you owe. This then allows for the remaining portion of your debt to be forgiven. Your Arbitrator will fully represent you and negotiate with your creditors until a settlement is reached. For example, if you owe a debt of $10,000.00 and wish to offer your creditor a one lump sum payment of $2000.00, when the offer is accepted, your creditor will forgive the remaining $8000.00 and close the account.

Many of the debt consolidation and credit counseling programs available today do not decrease the amount of debt that you owe. They simply combine your current balances into one new loan or create a long term payment plan. Their fee for service is then added to this new loan or payment plan. This can take up to 6-10 years to pay off.

The K & G Debt Settlement Program is different. K & G Debt & Credit Professionals engage in debt arbitration with your creditors and negotiates a settlement that reduces your outstanding debt by 50%-80%.

There are several sources of funds that may be available to you in order to pay your creditors the one time debt settlement payment. Such as, loans from friends and family, lending institutions, the sale of assets, savings and investments, etc. K & G Debt & Credit Professionals can assist you with this prior to negotiating your settlement amount.

This program is ideal for individuals with financial circumstances that have been affected by medical complications, a loss of employment, unsustainable debt, relationship losses, etc. If you have debt in arrears, in collections, or you are considering the potential need to file bankruptcy. K & G Debt & Credit Professionals can help you to get out of debt.

K & G Debt & Credit Professionals cares about your situation and wants to reduce your debt.