Process of Debt/loan closure
In the debt closure process, you need professional guidance and support. If you possess financial capacity, then debt settlement is not a big deal for you. However, if you lack the financial means to repay your loans or debts and are seeking debt closure, you require the assistance of an expert. At True Settle, we specialize in providing debt closure services. In this service, our experts carry out a series of tasks. We conduct an analysis of your income, expenses, and obligations. Based on our analysis, we have tailored a solution to assist you in collecting the necessary amounts. And side by side, our team negotiates with the creditor to lower the amount to get a one-time recovery of their debt. It is a two-way process, and without the help of a debt settlement company, handling the situation became very difficult.
Service Features
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Alert Configuration
Easily set up personalized alerts to monitor your account activity in real-time.
Notification Channels
Receive alerts via email, SMS, push notifications, or even phone calls, tailored to your preferences.
Custom Alert Rules
Create custom alert rules for unique scenarios, such as 'Notify account balance drops below $100.
Transaction Monitoring
We continuously scan your account for any unusual transactions, ensuring you're always in the know.
24/7 Availability
Our real-time alerts are active around the clock, so you're always connected to your finances.
Account Security Alerts
Stay secure with alerts for suspicious login attempts or any changes to your account settings.
WHAT IS DEBT CLOSURE AND HOW IS IT DIFFERENT FROM LOAN SETTLEMENT?
Debt closure is the process where the debtor pays the full amount, or 80% of the amount, all at once or in manageable installments, while the creditor negotiates the terms. It is generally for those with the ability to pay. Loan settlement is the process of negotiating with the lender to reduce the amount to less than the total outstanding amount. Settlement is made under a variety of conditions. However, in a loan contract, you must fully pay the amount.
WHEN IS DEBT CLOSURE POSSIBLE?
In order to successfully close out debt, you must exercise self-control, patience, and tenacity. A common component of this is being able to prioritize your financial obligations over your own discretionary spending and making sacrifices. By implementing all these strategies, you can enhance your ability to save more and quickly pay off your debt. The elimination of debt, on the other hand, comes with a number of major benefits, such as a reduction in stress, an improvement in creditworthiness, and the opportunity to concentrate on long-term financial objectives.
