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Debt Shield is a debt settlement company who offers consumers, who are
experiencing financial hardship, a service by which Debt Shield negotiate the
consumer’s unsecured debt with a creditor for a single lump sum payment of less
than the full amount due. Under the agreement between the consumer and Debt
Shield, the consumer saves and sets aside funds with a third party who holds the
funds in trust with a reputable national bank. This trust account is under the
sole control and dominion of the third party administrator and the consumer.
The consumer does not make a periodic payment directly to Debt Shield under any
circumstances.
Once a consumer builds up sufficient funds in their trust account, Debt
Shield presents the proposed settlement amount to the consumer. If acceptable
to the consumer, the consumer approves for the third-party administrator to pay
the creditor the settled debt amount. This process continues until all the
debt, which consumer had requested Debt
Shield to negotiate on his/her behalf,
is settled.
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