If you receive a bonus, pension payout, sale proceeds or other lump sum, settling debt may reduce the amount you owe and shorten your path to financial stability. We help you understand which accounts to address first and seek written settlement figures from the relevant creditors.
A careful process for assessing options, obtaining written terms, making verified payments and keeping proper records.
| Settlement stage | What happens |
|---|---|
Account review |
Review the accounts, legal status, balances and available lump sum. |
Opportunity assessment |
Identify priority accounts and possible settlement opportunities. |
Written quotations |
Request or help obtain written settlement quotations from creditors. |
Offer comparison |
Compare proposed settlements, expiry dates and payment instructions. |
Settlement understanding |
Confirm that the consumer understands the effect of a partial or full-and-final settlement. |
Payment records |
Retain proof of payment and request paid-up or settlement confirmation. |
Credit-report follow-up |
Check subsequent credit-report updates and dispute inaccuracies where necessary. |
BK Credit Solutions provides practical, confidential support to help individuals understand their financial situation, manage debt and work towards greater financial stability.
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