Free Debt Analysis 

Debt Settlement works by negotiating a payment for less than the balance owed (principal) on your unsecured personal debt accounts. This is different from simply reducing the interest rate as with Debt Consolidation and Credit Counseling, which do not affect the total debt balance.

By negotiating the balance itself, Debt Settlement provides a much faster means of handling your debt. Most creditors are willing to accept payments of much less than the balance owed in order to close out an account rather than lose the entire amount in a bankruptcy proceeding.

No debt settlement company should charge you any fees at all unless or until your debt is settled. Performance-based fees have always been the best model for the consumer. Recently, the Federal Trade Commission (FTC) made it law and as of October 27, 2010, anything besides paying for performance is simply illegal. Fees can only be collected after a settlement has been made and approved by the client.

Some debt settlement companies are attempting to circumvent the law by claiming a “legal model” exemption. There is no such exemption. Some companies will try to sell you a product to get money from you in advance. This is just a way to get money from you up front.

New Era Debt Solutions does not charge you any upfront fees whatsoever. Neither should any other company. When you pay money up front, not only does it hurt your ability to get out of debt, you are gambling on a company that may be forced to shut down by the government.