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Watch our video below to answer any questions about debt settlement. If you still have questions, send us a message using the contact form.

Address4000 MacArthur Boulevard, Ste 600, Newport Beach, CA 92660
Phone Number1 (888) 405-4706
What Is Debt Settlement?
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What Is Debt Settlement?

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Frequently Asked Questions

Common questions about debt settlement and our process
What Is Debt Settlement?
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Debt settlement is a financial hardship program that negotiates down your balances on unsecured debt like credit card, personal loan and medical debt so you can settle for less than you owe. Instead of paying your creditors directly, you make one lower and affordable monthly deposit into a dedicated account and, once there is enough saved, settlements happen. It's not instant and it's not for everyone but, when minimum payments no longer make sense, settlement can be a structured path out. If you want to understand if settlement fits your situation, Momentum offers online tools to help you investigate and compare options.
What Types of Debt Can Be Settled?
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Most unsecured debt can be settled, meaning debt that isn't tied to collateral. That includes credit cards, medical bills, personal loans, private lines of credit, buy now, pay later accounts, auto loan deficiencies and even some private student loans. Debts that can't be settled include car loans, mortgages, federal student loans, and anything secured by property. If you're unsure which category your debt falls into, think about whether the lender can repossess something. If they can't, it's likely unsecured and eligible for settlement.
What Happens If a Creditor Sues Me?
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A creditor lawsuit sounds intimidating, but it's more common than people think. It doesn't mean you've done anything wrong. It's simply one method creditors use to collect a past due balance. You'll get a summons with a deadline to respond. Most cases end in negotiation, not court. The key is staying calm and acting quickly. Having a reputable company partner who understands and can handle the process makes a big difference. Ignoring a lawsuit makes things worse. Handling it with the right support can make it manageable.
What to Do If You Can't Make a Program Deposit
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Missing a program payment doesn't automatically end your plan, but it can create real problems especially if you're already in a payment-plan settlement. Those settlements require payments on specific dates. If the funds aren't there, the creditor can cancel the agreement and the balance snaps back to the current amount plus interest and penalties. That's why advance communication is everything. If something hits your budget and a payment might be tight, reach out well before the due date. There are often work-around solutions, but only if we have enough time to act. What causes the most damage isn't a missed deposit, it's silence. Let your Client Services Manager know early. A quick heads-up protects your settlements, your timeline, and your overall success in the program.
Why Balances Rise Before They Fall
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In the early stages of a settlement program, your account balances might go up. That's normal. Interest and fees continue until an account is actually settled, so a rising balance doesn't mean the plan isn't working. Settlement works by negotiating the balance down once enough funds are saved, not by stopping interest immediately. Once a settlement is reached, those inflated balances stop mattering; the negotiated amount is what counts. This is why shorter but still affordable program lengths are better. The sooner you reach settlement-ready savings, the faster interest stops impacting you and the sooner balances start falling for real.
What to Do When You Receive a Settlement Offer from a Creditor
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From time to time, a creditor may send you a settlement offer directly. Large institutions don't always route things correctly, so sometimes these letters go to you by mistake. Other times they're strategic, timed, or conditional. Either way, forward the letter or email to your Client Services Manager right away. They'll compare the offer to typical settlement ranges for that creditor, your funding level, and the overall negotiation strategy. Sometimes it's a strong offer. Sometimes it isn't. The key is letting your team review it before you respond so you get the best possible outcome.
Couple smiling and reviewing their debt settlement plan together on a tablet at home
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