Debt Settlement Program Agreement

A Debt Settlement Program Agreement is a legal contract between a debtor and a debt settlement company or service provider, outlining the terms and conditions of a program designed to help the debtor negotiate and settle their outstanding debts with creditors or debt collectors. The agreement typically includes details about the services to be provided by the company, such as negotiating with creditors, creating a debt settlement plan, and managing the debtor’s funds in a dedicated account. The agreement may also include information about the fees and costs associated with the program, such as a percentage of the enrolled debt or a monthly service charge, as well as any guarantees or refund policies offered by the company. The purpose of a Debt Settlement Program Agreement is to ensure that the debtor has a clear and complete understanding of the program and its potential risks and benefits, and to protect the debtor’s rights and interests throughout the settlement process.