In a debt settlement program, the creditor agrees to slash the outstanding balance of the consumer by a certain percentage after a successful negotiation process. The program is usually offered by a settlement company in exchange for a fee.

The best part of the program is that consumers can settle a debt for pennies on the dollar. They won't have to pay late fees, fines or penalties.

How much can you save?
Monthly payment you can afford

OVLG Debt settlement process – 5 Simple stages

Our financial coach reaches you over the phone. He analyzes your financial situation and decides if debt settlement is best for you.
If this program suits you, then he'll explain the fees structure and other details clearly. Once done, you've to sign an agreement with us.
You get an e-copy of the debt settlement agreement. A secured client secure area is given to you. You can track your case every minute.
The CRA (Client Relationship Analyst) opens a dedicated account in Bank of America wherein your money is saved every month.
The negotiation process starts to reduce the outstanding balance. Once the creditor is ready to accept the partial payment in exchange for a lump-sum payment, we will settle your debt.
NOTE: Once payment is done, the creditor will inform the credit bureau that you've settled the account.
Debt Settlement Pros
  • You can save a lot
  • Creditors can be less aggressive
  • You can avoid filing bankruptcy
  • You can avoid collection calls
  • Late fees and penalties will be dropped
  • You can ditch credit card debts within 3 years
Debt Settlement Cons
  • Your credit score will drop initially
  • You'll have to pay tax when you save more than $600
  • You have to abide by the settlement agreement

Why OVLG is the best debt settlement company

Why is Oak View Law Group unique? What makes it the best debt settlement company in the country? Find out on your own.

  • 1) Follows all the settlement laws
  • 2) Solves your debt reduction needss
  • 3) Have a panel of attorneys to help you
  • 4) Help you settle debt in 48 states
  • 5) Gives you a 100% refund policy
  • 6) Have a reasonable fee structure
  • 7) Offers easy to understand written settlement agreement
  • 8) Gives you FREE sample settlement letters
  • 9) Gives you an FREE advice on settlement
  • 10) Helps you calculate your savings
  • 11) Is a registered law firm
  • 12) Has a strong privacy policy
  • 13) Has a transparent work methodology
  • 14) Seek approval for all resolution offers
Sun Feb, 2019 Review: SM2 saved $1758.16
Client satisfaction level:
Sun Feb, 2019 Review: SM2 saved $1758.16
Click here to check the Video Transcript
* Client names have been changed to protect privacy

Why it is good to consult a debt settlement attorney

Attorneys are there in the industry for several years. They know the ins and outs of debt settlement programs very well.

9 Reasons to consult a lawyer or attorney for settlement

  • 1 You don't have anything to worry. The attorney will look after your case.
  • 2 You don't have to receive collection calls. The attorney will handle them.
  • 3 Attorneys know what creditors can or can't do. So, they can plan accordingly.
  • 4 Attorneys know the latest FTC rules by heart. You might not know about them.
  • 5 Attorneys can negotiate very well. They'll probably save more for you.
  • 6 Attorneys may help you when creditor decides to file a case against you.
  • 7 Attorneys can safeguard you from collection harassment.
  • 8 Attorneys will give you the best legal advice.
  • 9 Attorneys can show you the other options as well.

Tips to choose a good settlement company

Yes, there are lots of tips. Some of them are:

  • 1 Ask the company about how to settle the debt. A good one will know the program in details.
  • 1 Ask if it charges an upfront fee. A good one won't charge an advance fee.
  • 1 Check if it's a licensed company in your state.
  • 1 Find out its industry experience. The longer it has been in the industry, the better.
  • 1 Check and find out if its fee structure is acceptable.
  • 1 Go through the online reviews on the company.
  • 1 Ask about the right-of-rescission period.
  • 1 Check if the debt settlement company follow the FTC laws.


Here you're talking about DIY debt settlement. Well, it's not for everybody, and this is why several consumers approach attorneys. Here are the 10 qualities you need to have to negotiate on your own:

10 Qualities you need to have

  • 1 You're less emotional and more practical
  • 2 You know the collection laws by heart
  • 3 You can talk sweetly
  • 4 You know how to manage collectors
  • 5 You can execute your debt settlement plan
  • 6 You have an idea about the collection cycle
  • 7 You know how fast you can arrange money
  • 8 You're diplomatic and can negotiate well
  • 9 You can convey your problems properly
  • 10 You can get everything in writing

Well, a lot of people refer DSP as:

  • 1 Debt negotiation programs
  • 2 Debt reduction programs
  • 3 Debt resolution programs

Next time, you hear these names, don't get awestruck.
This is nothing but DSP.

  • 1 Credit card debt
  • 2 Personal Loan
  • 3 Payday loans
  • 4 Utility bills
  • 5 Medical bills
  • 6 Collection account

It is registered with CalBar and Cal Chamber

Video transcript on: When should you settle debts?


It takes only a few seconds to decide if debt settlement would work for you. All you need to do is check out the types of debts you have.(pause)

If you have delinquent credit cards, personal loans, payday loans, private student loans, collection accounts, medical bills or utility bills, then debt settlement will definitely work for you. It helps you save 40%-60% on your payoff amount without filing bankruptcy. (pause) Also, you can avoid debt collection calls and late fees. (pause)

But if you have mortgage loan or federal student loans, then it won’t work. (pause)

Debt settlement will drop your credit score initially and you have to pay tax if your total savings is more than $600. But, it will gradually increase as you start following the tips given to you in the free budget counseling session every month.

Still Confused? Call our financial coach at 800-530-6854 to analyse your debt and make the final call.

Last Updated on: Fri, 25 Jan 2019


4.8 rating
Based on 82 reviews
Years in Business:12 Years

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