Collections Process
Debt Settlement
A debt settlement is an agreement in which a creditor accepts less than the full balance to resolve an account. Settlements are a common recovery tool when full payment is unlikely, and any authorized discount is defined by the creditor's placement guidelines.
What Debt Settlement means for creditors
A settled account is recovered revenue that might otherwise be lost entirely. MSB negotiates settlements within each client's approved parameters, maximizing net recovery on hard-to-collect balances.
Midwest Service Bureau has recovered commercial, medical, utility, and government debt for creditors nationwide since 1970 — on a no-recovery, no-fee basis. Questions about debt settlement or a portfolio you'd like reviewed? Call (800) 362-0272.
Related terms
Ready to Improve Your Debt Recovery?
Contact us today for a free consultation and learn how MSB can help your organization recover more with our proven collection strategies.