How quickly can I expect to see results from a debt settlement?

The timeline for debt settlement in California can vary depending on the amount of debt and the individual’s financial situation. In general, the process usually takes anywhere from three months to two years to complete. First, a debtor should contact a debt settlement company or lawyer to review their financial situation and create a plan for repayment. During this phase, the debt settlement company or lawyer will work with creditors to negotiate a payment plan or lump sum settlement. It can take anywhere from one to three months to make a settlement agreement with the creditors. Once an agreement is reached, the debt settlement company or lawyer will help the debtor draft an offer to the creditors. This may take a few weeks to complete. At this stage, the creditors will review the offer and decide whether they want to accept it. Depending on the creditor, they may accept the offer right away, or it might take a few weeks before they decide. Once the offer is accepted, the debtor will need to make the payments according to the settlement plan. It typically takes around two to three months for the payments to be made and for the debt to be cleared. During this time, the debtor should keep track of the account activity and make sure the payments are being made correctly. Overall, debt settlement in California can take anywhere from three months to two years, depending on the amount of debt, the financial situation of the debtor, and the negotiation process with creditors.

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How quickly can I expect to see results from a debt settlement?

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