debt? It can be—particularly if you have a lot of high-interest debt—but it will depend on the specifics of your situation.
Debt settlement companies work with your creditors to bargain your current debt down to a level that you can afford, but they charge fees to handle the negotiations on your behalf. While you may end up owing less to your creditors, those fees can eat into your relief.
Key Takeaways
Debt settlement involves offering a lump-sum payment to a creditor in exchange for a portion of your debt being forgiven.
You can attempt to settle debts on your own or hire a debt settlement company to assist you.
Typical debt settlement offers range from 10% to 50% of the amount you owe.
Creditors are under no obligation to accept an offer and reduce your debt, even if you are working with a reputable debt settlement company.
While debt settlement companies may be risky in general, some come with a little more risk than you might expect. Some debt settlement companies may be less than reputable, which can leave you with a high bill and few results.
Customer support plays a key role in a company’s success, and in settlement companies, it can help educate customers and drive business decisions. Here are some ways customer support can be important in a settlement company:
Educate customers
Customer support can help educate customers about complex topics like estate planning.
Share customer knowledge
Customer support can share customer knowledge with the rest of the company, which can help inform business decisions.
Drive business decisions
Customer support can be a key driver of business decisions, such as adding new features or products.
Increase customer loyalty
Good customer service can increase customer loyalty, which can lead to customers spending more money and sharing the company’s good reputation.
Some other responsibilities of customer support include:
Answering customer questions and providing information
Resolving customer issues and complaints
Troubleshooting technical issues
Explaining product features
Guiding customers through processes
Creating, canceling, or upgrading customer accounts
Updating and verifying account information
Assisting with orders, refunds, collections, deliveries, and exchanges
