Debt settlement infographic - Explaining the process in a simple way

DEBT SETTLEMENT PROCESS Delinquent on a credit card account for 3 months. SETTLEMENT COMPANY Negotiates with the creditor Decides upon a monthly payment. Agrees to reduce the outstanding balance. Pays the amount to the settlement Asks to stop paying the creditor. company Debtor/Settlement company pays the required amount to the creditor. Enough amount gets accumulated in a settlement account. By- DebtConsolidationCare Negotiates with the creditor for a reduced payoff amount. Approaches a company in a settlement .................n Doesn't agree to the proposal RRRA DEBT SETTLEMENT PROCESS Delinquent on a credit card account for 3 months. SETTLEMENT COMPANY Negotiates with the creditor Decides upon a monthly payment. Agrees to reduce the outstanding balance. Pays the amount to the settlement Asks to stop paying the creditor. company Debtor/Settlement company pays the required amount to the creditor. Enough amount gets accumulated in a settlement account. By- DebtConsolidationCare Negotiates with the creditor for a reduced payoff amount. Approaches a company in a settlement .................n Doesn't agree to the proposal RRRA DEBT SETTLEMENT PROCESS Delinquent on a credit card account for 3 months. SETTLEMENT COMPANY Negotiates with the creditor Decides upon a monthly payment. Agrees to reduce the outstanding balance. Pays the amount to the settlement Asks to stop paying the creditor. company Debtor/Settlement company pays the required amount to the creditor. Enough amount gets accumulated in a settlement account. By- DebtConsolidationCare Negotiates with the creditor for a reduced payoff amount. Approaches a company in a settlement .................n Doesn't agree to the proposal RRRA DEBT SETTLEMENT PROCESS Delinquent on a credit card account for 3 months. SETTLEMENT COMPANY Negotiates with the creditor Decides upon a monthly payment. Agrees to reduce the outstanding balance. Pays the amount to the settlement Asks to stop paying the creditor. company Debtor/Settlement company pays the required amount to the creditor. Enough amount gets accumulated in a settlement account. By- DebtConsolidationCare Negotiates with the creditor for a reduced payoff amount. Approaches a company in a settlement .................n Doesn't agree to the proposal RRRA DEBT SETTLEMENT PROCESS Delinquent on a credit card account for 3 months. SETTLEMENT COMPANY Negotiates with the creditor Decides upon a monthly payment. Agrees to reduce the outstanding balance. Pays the amount to the settlement Asks to stop paying the creditor. company Debtor/Settlement company pays the required amount to the creditor. Enough amount gets accumulated in a settlement account. By- DebtConsolidationCare Negotiates with the creditor for a reduced payoff amount. Approaches a company in a settlement .................n Doesn't agree to the proposal RRRA