Big questions.
Plain-English answers.

Debt settlement involves negotiating with creditors to accept less than the full amount owed on eligible debts. Creditors do not have to agree, and results are not guaranteed.

Start with a conversation about your circumstances and goals. Before enrolling, ask for an explanation of eligibility, fees, program commitments, risks, and alternatives.

Eligibility depends on your situation, eligible debts, and state availability. Speak with the MDS team to confirm the current program requirements.

You can ask about unsecured debts such as credit cards. The team can confirm whether each debt is eligible; not all creditors or debts participate.

A creditor may agree to a negotiated settlement, but it is not required to do so. Neither a specific savings amount nor a settlement can be guaranteed.

The timing varies with individual circumstances, creditor participation, and program terms. Ask for a personalized explanation rather than relying on a fixed completion date.

Ask MDS for a written explanation of all applicable fees, when they are earned, and any account costs before enrolling. Costs and terms need to be confirmed for your situation.

Debt settlement can negatively affect credit. Ask how the program may affect your accounts and credit history before deciding.

Creditors may continue collecting, and may sue. Enrollment does not guarantee that calls, interest, fees, or collection activity will stop.

You can contact creditors yourself to discuss repayment or settlement. Consider the time, costs, risks, and alternatives before deciding whether to use a service.

No. Debt settlement involves negotiations over existing eligible debt. A consolidation loan is a separate borrowing product.

Review the written agreement, fees, cancellation terms, possible credit impact, creditor collection risks, state availability, and alternatives. Ask for clarification on anything you do not understand.