Through debt settlement, debtors may be able to negotiate a partial repayment with their creditors. Vivix Credit Solutions offers this and many other services to credit-challenged client every day. They can provide you with the counseling and solutions you need to clean up your credit. It’s important to remember that not all debts can be settled and not all creditors have to agree to settle a debt. However, many are more than willing in exchange for receiving a portion of what you owe. Call Vivix Credit Solutions today and a credit expert will help you get started.

Most credit cards are unsecured, meaning you did not provide any security to the bank or creditor in exchange for the line of credit. If you default on the card, there is nothing for the bank to seize in order to pay for the debt. Unsecured credit cards are the most common debt to be settled for consumers, as banks are happy to receive any money rather than risk the account go unpaid and into bankruptcy. Vivix Credit Solutions can advise you about how much you might save with these accounts through settlement. It will depend on the creditor and your balance.

Settling store accounts is also very common, and this includes credit given by major department stores, clothing outlets, and home improvement stores. These are also unsecured accounts and like credit cards, the lender is willing to settle if it becomes obvious they will not receive any money otherwise. Vivix Credit Solutions will work with you and your account holders to see what type of settlement you may be able to reach. If you have trouble making your payments and find yourself overextended with credit, debt settlement may be the answer for you.

If you find some of your credit accounts in collections, they are likely unsecured credit lines as well. Secured lines of credit have security or collateral that can be redeemed by the lender if necessary. Other than credit cards and store accounts, medical and utility bills are common collection items. Credit collection agencies usually buy these debts from the original creditor for a fraction of what is owed, which means they can give you a great deal in settlement if willing. Vivix Credit Solutions will provide you with the information and services you need to settle

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If you consider the types of debts above, you may realize a pattern. They are all unsecured debts. It is difficult to get a creditor of a secured debt to agree to a settlement because they hold some security, and a little bit of power. Vivix Credit Solutions can help you with a debt settlement if you choose, though they cannot guarantee that all debts will be settled. In some cases, if there is a debt remaining after the security has been collected, a lender may agree to settle the difference. Vivix Credit Solutions cannot settle tax or student loan debts for you, although the IRS does have a process for requesting a settlement, or Offer in Compromise.