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What is Credit Card Debt Forgiveness?

Debt forgiveness as it relates to unsecured debt (e.g., credit cards, medical bills, personal loans), occurs when a portion or all of your principal balances are eliminated by your creditor.

There are a variety of options in resolving unsecured debts. However, resolving your debts quickly and completely typically takes place only in bankruptcy and debt mediation.

Bankruptcy: In a court-ordered proceeding, secured creditors are paid, such as those holding mortgages or auto loans. Your remaining funds and assets are used to pay off unsecured creditors. If there are not enough funds to pay your unsecured debts, the remaining balances are forgiven.

Debt Mediation: In debt mediation, negotiations take place with unsecured creditors. A settlement amount is agreed upon to pay your unsecured debt balances for an amount that is less than you owe. Once these settlements are paid and the account is “Settled,” the creditor forgives the remaining balance.

How can GRT Financial have your debt forgiven?

GRT Financial’s Debt Mediation programs work on your behalf. Our Professional Settlement Negotiators work with your creditors to save you money. Due to years of experience, GRT Financial has distinct advantages in negotiating settlements for you. A few of these benefits include:

  • Leveraging thousands of client accounts to promote better settlements
  • Continually analyzing creditor settlement trends, historical data, and new developments
  • Key relationships with creditors to facilitate better forgiveness opportunities

Our goal: Obtain the best settlement agreements to have your debt forgiven. You can rest easy knowing these debt obligations are no longer a shackle on your life.

A free consultation with GRT Financial is only a phone call away. One of our Debt Specialists will help identify what debts can be settled, how we can reduce what you are paying each month, and what debt forgiveness would mean for your financial future.

Contact our Debt Specialists at 855-374-9095. We are glad to assist you!

Excellent experience

My experience with GRT Financial has been excellent. They are very professional, well-informed, helpful, extremely pleasant to work with.

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P. Whitten  

Patience is key

Signed up in May 2023 four months later (September) 2 creditors payed off, it will be nice to have debt paid off.

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Customer  

Great patient and professional

The customer service, always reaching out and checking with me to make sure I understood what was going on with my account.

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Deborah  

Real People - Real Results

Real Results

We have a professional settlement negotiation team that makes a real difference in our Clients’ lives.

Client Saved

$2,828

Client Owed

$4,778

Settled Amount

$1,950

Savings

59%

Julius A

Client Saved

$5,239

Client Owed

$8,889

Settled Amount

$3,650

Savings

59%

Amanda L

Client Saved

$3,307

Client Owed

$5,813

Settled Amount

$2,506

Savings

57%

Muqtadir S

Client Saved

$1,372

Client Owed

$2,251

Settled Amount

$879

Savings

61%

Kevin S

Client Saved

$1,645

Client Owed

$2,995

Settled Amount

$1,350

Savings

55%

Kathryn G

Client Saved

$1,716

Client Owed

$3,020

Settled Amount

$1,304

Savings

57%

Jeffrey B

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