Depending on your individual situation and whether you have missed payments to your creditors, debt settlement programs might lower your credit score. Since credit repair is regulated differently, we do not offer credit repair services or advice on improving your credit.

At Purple Financial, we only earn our fee if we achieve results for you. Specifically, three conditions must be met for us to charge a fee: first, we need to receive a settlement offer from the creditor; second, you must approve the settlement; and third, at least one payment must be made to the creditor. Our fee, which is up to 25% of the total debt enrolled, is only charged after these conditions are fulfilled. Until then, there is no fee for our service.

Debt settlement lowers your debt by negotiating with creditors to accept a reduced amount, with the remaining balance forgiven. Debt consolidation, on the other hand, merges all your debts into a single loan with one monthly payment, often at a lower interest rate, but usually requires a higher credit score for approval.

One of our friendly, dedicated debt experts will explain all your options and the pros and cons of each, helping you choose the best solution for your situation.