They will then suggest an amount that is affordable for you while offering your creditors more money than what they would receive if you did file bankruptcy. (moneyproblems.ca)
Debt - settlement companies tend to hold monthly payments from you until they have a lump sum they can offer a creditor in exchange for a settlement. (simplethriftyliving.com)
Improve your financial management by offering the creditor an upfront lump sum in exchange for a smaller amount owed. (thefreefinancialadvisor.com)