Once you have hired a debt settlement company they will open a bank account in your name that you will begin depositing money into each month. The amount you put into the account and the length of that process will be decided by you and your debt settlement company. Once the account has reached the amount agreed upon the debt settlement company will begin paying on the new balances that they negotiated. This is why debt settlement is also referred to as debt negotiation. If you are interested in learning more about what debt settlement can do for you just fill out our online application or call our toll free number to talk to a representative for a free consultation!