FAQ
Straight answers about debt settlement.
The questions people ask most often, answered honestly — including the trade-offs.
What is debt settlement?
Debt settlement is the process of negotiating with your creditors to resolve an unsecured debt for less than the full balance owed. When a creditor agrees, the terms are put in writing and the account is resolved.
Is Fair Terms Debt a law firm?
Yes. We are a law firm. Submitting a case review does not create an attorney-client relationship — that is formed only when we agree in writing to represent you.
Which debts can be settled?
Settlement generally applies to unsecured debts such as credit cards, store cards, personal loans, and similar accounts. Secured debts like mortgages and auto loans, and most student loans, work differently. Your free case review will tell you what applies.
Will debt settlement affect my credit?
It can. Pursuing settlement may adversely affect your creditworthiness and may lead to collection activity while balances are unresolved. We explain the trade-offs honestly during your case review.
How long does it take?
It varies with your balances, your creditors, and your ability to fund a resolution. We do not promise a specific timeline, and any estimate we give is illustrative, not a guarantee.
How much does it cost?
Your case review is free. If we take your case, fees are explained and agreed in writing before any work begins.
Is this a loan?
No. Settlement negotiates your existing balance down; it is not a new loan and does not add to what you owe in principal.
Do you work in every state?
We serve consumers across the United States, subject to the rules that govern attorney practice in each jurisdiction. We do not provide debt management services in Oregon.
Have an attorney review your debt situation.
Free, confidential case review. No obligation, and no cost to see where you stand.
Start My Free Case Review