A Better Way to Get Out of Debt
Part 4 of the 4-Part
Debt Settlement Series
A Smarter, Safer Way to Get Out of Debt
Most long-term debt settlement services take years, and fail for the majority of people who enroll. A 2020 study commissioned by the industry found that 22% settled all of their accounts within the commonly advertised 48-month timeline. We take a different approach — one built around speed and control.
Jared was a record-setting debt collector and spent years working inside the debt collection industry before transitioning, 25 years ago, to helping consumers and small businesses get out of debt. With that background and over 30 years of combined experience, he offers two approaches: Simultaneous Debt Settlement (when you can settle quickly) and structured Payment Plans (when you need more time).
The goal of the Simultaneous Debt Settlement service is to quickly settle the enrolled accounts close together by using the resources you have available.
Many people and small businesses cannot fund that yet, so the Payment Plan service helps you negotiate the smallest payment the collector will accept on the charged-off accounts. That lets you save, rebuild, and settle them together later.
This is Part 4 of a 4-part series. If you haven’t read Part 1 yet, we recommend starting there first.
How Our Simultaneous Debt Settlement Service Works
Review & Estimate
We review your situation and give you a clear estimate of cost, savings, timeline, and potential tax impact. We then ask you to verify your tax exposure with an accountant before moving forward.
Negotiations
We help you negotiate the enrolled accounts at the same time. Settlements can often be paid in a lump sum or in monthly installments. The goal is to reach those settlements close together, not years apart.
You Approve & Pay
Most of our clients complete their negotiations in about 6 months and pay their accounts directly. Some finish sooner. Some take longer. No funds flow through us except our fee. We only get paid if you save money.
Our Debt Settlement Fee Structure
Our fee is 20% of the savings you achieve. There is no upfront fee. See the full fee comparison on $100,000 of debt.
You will not be charged anything until you approve an offer and make a payment toward your settlement. You will be invoiced as the work is completed.
You Stay in Full Control
This is one of the most important parts of working with us:
- Our typical debt settlement client finalizes all of their negotiations in about 6 months. Some finish sooner. Some take longer.
- You’re never locked in. If an offer doesn’t feel right, you can walk away with zero cost for any accounts that you don't settle.
- You pay the creditors directly — not us.
- We only get paid when you actually save money.
How Our Payment Plan Service Works
If you cannot fund settlements now, do not start a 24–48 month settlement program. Those accounts stay unpaid while you save, and unpaid charged-off accounts are the ones that can reach an attorney.
A payment plan is the bridge. The goal is the smallest payment the collector will accept, so more of your money can go into savings and you can settle sooner. We help you negotiate that payment on the charged-off accounts, you pay the creditors directly, and we help you settle the accounts together when you can.
The plan does not satisfy the debt. Recovery still starts after the last account is settled. A payment can also restart the statute of limitations. What it can do is reduce the chance the account is placed with an attorney, so when you are able to settle, the cost is often lower than it would be after attorney placement.
Review & Estimate
We review the accounts and show you the smallest monthly payment that is likely to hold, based on the balances and your budget.
Negotiations
We help you negotiate that payment with the collectors on the charged-off accounts, so more of your money can go toward a later settlement.
You Approve & Pay
You pay the creditors directly. We only get paid as the work is completed.
Our Payment Plan Fee Structure
Our fee is 5% of the balance. There is no upfront fee.
You will not be charged anything until you approve and make your first payment. After that, you will be invoiced as the work is completed on each account.
When it's time to settle, the settlement fee drops from 20% of the savings to 15% of the savings.
A Responsible Alternative When You Need More Time
If you need time to recover financially but want to avoid bankruptcy, this is the safer alternative to a long-term debt settlement program.
Once an account charges off, interest and fees generally stop. Your monthly payments go toward the principal, and a payment plan generally pauses further collection activity.
This option is useful if you are looking at Chapter 13, or if you do not qualify for credit counseling and cannot settle yet. The point is breathing room, not a years-long payoff. When you can fund the settlements, we help you settle them together.
This service is for charged-off accounts and includes 18 months of support. We do not recommend the Payment Plan service unless you expect to be able to settle the accounts together within those 18 months.
- Interest, late fees, and over-limit fees generally stop once an account is charged off, so payments go toward the principal.
- We help you negotiate the smallest monthly payment the collector will accept, so you can save faster and settle sooner.
- A payment plan is usually enough to keep a collector from placing the account with an attorney. It is not a promise that it can’t happen.
- You pay the creditors directly. We never handle your money.
- When you're ready to settle, the settlement fee is 15% of the savings instead of 20%.
Client Testimonial
I want to thank you for your extraordinary help these last several months in guiding me through the intricacies of settling my numerous debts.
There is no conceivable way I could have done this without you. Your negotiating skills were outstanding and your broad range of knowledge of the loan industry were incalculable in resolving every account satisfactorily and with a huge savings to me.
In addition to your obvious professional expertise, I was impressed by the personal qualities you brought to our association. Virtually all phone calls over the extended time we worked together were returned promptly. Your patience with my many questions and your courtesy to everyone involved was exemplary. Most important, was your honesty and integrity.
I think your finest hour was when you advised me to take action that would ultimately reduce your compensation. You proved that your loyalty was to me, your client, rather than your self-interest. You were definitely the light at the end of my tunnel and I shall always be grateful.
Thank you again.
— Doug
This testimonial is an example of past results and is not a guarantee of future settlement amounts.
Common Questions
How does the Strauss Method work?
We only offer it when you can fund the settlements quickly. Before anyone is enrolled, we look at the accounts, the resources, and whether those resources can resolve the enrolled debts close together. If they cannot, we do not put you in a 24–48 month program. A payment plan is the bridge until you can. If you can, we help you negotiate the enrolled accounts at the same time, with the goal of settling them close together, not years apart. Most clients finish in about 6 months. Some finish sooner. Some take longer. You get the offers in writing, you decide which ones to accept, and you pay the creditors directly. The fee is 20% of what we save you on the settlements you accept. There is no upfront fee, and a rejected offer does not create one. That screen is the point. Long-term programs enroll people who cannot finish, then leave the unpaid accounts exposed while they save. We do not. See more questions in the FAQ.
What if I cannot settle all of the accounts right now?
That is the Payment Plan service. The goal is the smallest payment the collector will accept on the charged-off accounts, so you can save and settle them together later. It can reduce the chance the accounts are placed with an attorney. It does not satisfy the debt until you settle it. This service includes 18 months of support. We do not recommend it unless you expect to be able to settle the accounts together within those 18 months. If you are not ready by then, you can renew for another term.
How long does simultaneous settlement take?
Our typical debt settlement client finalizes all of their negotiations in about 6 months. Some finish sooner. Some take longer. It depends on the creditors, the balances, and whether the funds are actually available. Settlements can be structured as a one-time lump sum payment or spread across monthly installments. A 24–48 month program is a different product, and we do not offer it.
Not sure which option is right for you?
Let’s look at your situation together, or read more questions first.
No obligation. Completely confidential.