Financial distress can be scary, but you are not alone. We can help.


We've answered the most common questions below. If we missed something, don't be shy. Email us at

Resolve FAQs
Debt Settlement
Debt Management

Resolve is a free financial management platform designed to help people experiencing financial distress. The platform will help you compare various debt relief options and can connect you with trusted, affordable debt relief providers. It's also more than just software. We have a team of debt experts standing by to answer all debt related questions.

First, we’ll need to ask you some questions to understand your financial situation. This will include things like your goals, debts, income and household situation. After that, we’ll do some calculations to see which debt relief options are available to you. We’ll answer all of your questions and, when you are ready, we will guide you step-by-step through your debt relief path with the help of the amazing service providers in the Resolve Network.

This is a hard question to answer, but an important question to ask. Since starting Resolve in 2017, over 20,000 people have used the platform. We’ve provided guidance on over $250 million of distressed debt. We were selected as a 2018 Winner in the Center for Financial Services Innovation Finlab. We have some amazing team members, advisors and investors. If you still need more convincing, you can email our CEO, Alex Mooradian, at

The platform and debt guidance are free. You can review and compare debt relief paths for free. You can ask our experts questions for free. You can get debt settlement estimates and a settlement plan for free.

The only thing that is not free on Resolve is if you decided to hire or engage a service provider in the Resolve Network.

  • For example, if you opt to use our debt settlement providers, the cost is 15% of what our negotiator partner saves you. Nothing up front, only due at the time of the first settlement payment.
  • For example, if you are sued and opt to use our attorney partners to respond to the summons, the cost is $200.

We're so happy to hear that we can help you on your path to debt relief. If you haven't started a Resolve account already, you can click here to get started.

It sure is. We use bank-level 256-bit SSL encryption on our website and our databases are all encrypted. Our servers are hosted securely on Amazon Web Services (AWS), a secure hosting service trusted by the Department of Defense and NASA.

No. We take privacy seriously. We promise to never sell your information and we will never share your information without your express consent.

We’ve pulled together some of the best debt coaches, debt settlement negotiators, credit counselors and attorneys. They can help you with debt settlement, bankruptcy, debt defense, debt management plan…and just about anything related to your debt.

The Resolve Network is a group of people and companies dedicated to helping people in distress. We’ve screened and vetted all of the providers in the Network. They share our values and have pledged to always do what is right for the members of Resolve. They do charge for their services, but they are extremely fair and affordable, often 50-75% less expensive than traditional debt relief providers.

Yes, you can settle your debts on Resolve by engaging a professional debt settlement provider in the Resolve Network. After answering some questions, the platform will build you a settlement plan and then match you with a settlement expert who can handle the entire settlement process for you.

Not yet, but we're working on it! When this service becomes available, we'll match you with a trusted bankruptcy attorney in the Resolve Network.

In the meantime,  we offer you this great resource to find a Bankruptcy attorney near you: and we can help you understand if Bankruptcy is a good option for you.


We can help you understand if a debt management plan (also known as a DMP) is a good option for you and answer any questions you have. If you're ready to start a DMP, we'll match you with a trusted credit counselor in the Resolve Network. You'll just need to provide your phone number in the application when prompted, and a member from Cambridge Credit Counseling will reach out and assist you further.

That’s a great question. Most importantly, Resolve is completely free to its members. We are able to provide this great platform and service because of the partnership we've established the service providers in the Resolve Network.

Debt relief options can be confusing, but we're here to help!

If you haven't already created a Resolve profile, you can do so here or schedule a free consultation with a debt expert.

  • In order to create an account and receive personalized advice through our platform, we’ll need to ask you some questions to understand your financial situation. This will include things like your goals, debts, income and household situation.
  • After that, we’ll do some calculations to see which debt relief options are available to you.
  • We’ll answer all of your questions and, when you are ready, we will guide you step-by-step through your debt relief path with the help of the amazing service providers in the Resolve Network.

If you've already created a Resolve profile and have more questions, please schedule a call with one of our debt experts here.

Filling out your profile is easy, just follow the guide below!

1. First, you'll want to take care of the items in your Action Plan. You can easily access it from the lefthand side of your dashboard.


2. Make sure to complete any tasks that are due soon.


3. For any account updates, you'll want to click on the 'Account' tab on the lefthand side of your dashboard.


4. Here you'll be able to edit or add personal details, other debts, or update your available budget for paying down your debts. Let's start with details:


5. When you click the edit button, a form should pop up for you to input your information like example below when selecting to edit 'Basic information'


6. Click on the 'Debts' tab to add and/or edit your debts. Making sure we have the most accurate and updated information will help us propose the best options for you.


7. Lastly, click the 'Budget' tab to update your available funds. Making sure we have the most accurate and updated information will help us propose the best options for you.




You can click this link, enter your email, and request a new password.

It's easy to schedule a call with one of our debt experts. Just click this link to find a time and day that works best for you!

Your action plan is a customized, and prioritized task list for you to complete so we can best recommend debt solutions that fit your needs.

You can access it anytime from the lefthand side of your dashboard as pictured below.


Make sure to complete any tasks that are due soon.


Another easy one. Email our Helpline at We’ll try to get back to you within a few hours.

Debt Settlement is the process of paying off your debts for an amount less than you owe. For example, a person with a Chase credit card with a $10,000 balance might only be able to pay $4,000 to close and “settle” the account and have the remaining $6,000 forgiven.

Debt Settlement is a negotiation between you (or your representative) and your creditor (or their representative like a collection agency or collection lawyer) to pay a lesser amount than your current balances.

Creditors will base the settlements that they agree to based on:

  • how delinquent the account is 
  • how long you've had the account
  • how collectable you look on paper

The timing can vary depending on who you’re working with. Creditors typically are willing to settle when you’ve become late enough to trigger the accepted protocol for loss mitigation. This is typically when you’re at least 90 days delinquent.

It is an accepted business practice for creditors to take less than the balance owed, because they are unlikely to collect on the vast number of accounts that are more than 90 days late. For more information, you can watch this video: 

  1. You've fallen behind on payments and the debt is "old enough" to be considered for a settlement plan (usually 5-6 months delinquent).
  2. You must be in a position to accept the terms or the amount of the settlement (have enough savings or resources to commit to a terms settlement).

  • You will likely pay less and get out of debt faster; which is a drawback and benefit. If you’ve already missed payments with your creditor, and are in collections, settling will eventually help your credit.
  • It can improve your financial situation.
  • It can help you avoid being sued if you’re already in collections.

  • Your credit score will temporarily drop.
  • Collections - your account will be subjected to internal/external collections which could include being sued.
  • You may be impacted by taxes.

  • If you have a debt that is settled for less than the original balance, and the difference (the forgiven portion of the debt) is greater than $600.00, the creditor is supposed to send you a 1099c, which would then be reported as income. But not everyone will owe tax on their settlements.
  • The IRS does allow you to write off any income from forgiven debts up to the amount by which you were insolvent at that time. Unless you had a positive net worth at the time that you settled an account, which for many is unlikely when buried in debt, you generally wouldn’t have to pay any taxes on the forgiven debt(s). Always consult a tax attorney or tax adviser for options that can be applied to your specific circumstances.
  • Incidentally, if you do wind up owing taxes, it is because you saved money. So, keep that in perspective. In the same way that you would budget and set aside funds to settle with, if you are solvent and owe tax on forgiven debt, you must also budget to pay the taxes.

Debt settlement does damage your credit report, and will hurt your credit score. Credit Counseling and Bankruptcy also impair your credit report, credit rating, and access to new credit products too. All outside debt relief intervention options will impact you in one form or another.

If you're considering Debt Settlement and you've missed payments, your credit has already probably taken a hit and these remarks will appear on your credit report depending on how delinquent you are.

Credit scores typically don't improve during settlements, but can improve rapidly after! Some people see a much more elastic bounce back soon after their last settlement payment, whereas for some people it can take a few years to see credit score improvements.

  • Remarks of 30, 60, 90, 120, 150 days late, followed by a charge-off will appear. Additional trade lines could be reported later on by debt collectors and debt buyers.
  • Once paid, it will show as a paid collection but you can still accomplish your goals even with paid collections on your credit report.
  • Additional information:

You can apply for credit cards, loans, car loans, and mortgages right after your last settlement payment is made.

Yes. Creditors have the right to file a lawsuit if you are not paying a debt. Being sued is one of the biggest concerns you should have before determining if debt settlement is something you should attempt.

Feel free to contact us for a free consultation so we can help you calmly evaluate what your best options are and the next best steps to take if you are hyper-concerned about this, and especially if you already being contacted by a debt collection attorney, or have been sued.

We have attorneys available that can represent you for as little as $200 that will continue to work on negotiating a settlement, be prepared to pay 50% or higher on lawsuit negotiations.

For more information, you can reach out to our support team by emailing or schedule a consultation appointment here!

Yes, many people are successful negotiating with creditors and debt collectors on their own, but be prepared to do your own research. It is hard work to optimize results. So, as for anything, there are pros and cons to this approach.

No, their advice is bad. Their fees are high. They settle debts in the wrong order, therefore increasing the risk of a lawsuit. But at Resolve, we are biased about these companies, as we offer an alternative solution prioritizing saving you money.

Our number one goal is to assess your personal situation and understand the legitimate, viable options for you, and we are really good at that! We are then going to transparently educate and inform you of these options, triage based on your situation, and provide you with partners that can help you accomplish your financial goals for less money than a traditional Debt Settlement company.

We provide you an outline and estimate of what your settlement(s) will cost, how long the settlement plans will take to complete, and when you should target certain creditors. It’s created for you to use as a guide, and we also include our service fee so everything is transparent and personalized before you decide to proceed with the plan.

The estimates we provide you are based on industry trends and historical data.

The estimates are based on how quickly you raise money. The system currently has a 24 month bias, but you can do it much faster if you’re able to put more money towards settling. We want to get you through this fast.

Collections is not a one size fits all, just like debt settlements. There are ranges because each debt settlement case is very circumstantial and also depends on how much savings you currently have and what our negotiator partners are able to save you.

Yes. You pay your settlement and then you will receive an invoice from Resolve. Our goal is to save you as much as possible, so our fee is 15% of the savings we get for you. We can even work with you on spreading out the fee, just contact us for more information!

Our goal is to save you as much as possible for Debt Settlements. Our negotiator partners charge 15% of the savings they're able to get for you. Since their incentive is to save you as much as possible, it's a win, win for both sides! 

Absolutely! We will present each offer with a comparison to the plan, a recommendation, and the fee to settle using our partners before you commit.

No. Once you have agreed to a Debt Settlement plan, the payments cannot be edited. If you miss a payment on an agreed upon plan, you risk losing the deal you have and potentially may have to start from scratch.

If you would like to pay early, please contact us so we can help you!

If you would like to update your available funds (savings), you can update your profile at any time. Just click here to update your budget.

If you miss a payment on an agreed upon plan, you risk losing the deal you have and potentially may have to start from scratch. Please contact us if you would like to discuss further.

Yes, but you'll need to contact our support team who can give you specific instructions.

Yes, this can still happen. Please watch the video below for more information, and feel free to contact us at if you have any questions or need help.


Depending on the type of Bankruptcy filing, it's an opportunity for a consumer to gain protection from creditors using the courts, discharge unsecured debts entirely, or enter into an organized repayment plan. There are different types of Bankruptcy filings and pros and cons within each option. Chapter 7 and Chapter 13 are most common.


The two most common types of Bankruptcy filings are are Chapter 7 and Chapter 13. In most cases you will almost always want to reach out to a Bankruptcy attorney near you and schedule a consultation; most of them do this for free so if they want to charge you, find a new attorney. We've detailed how each filing works below:

Chapter 7:

  • This is the best option, if you qualify. There are limitations per state and depends on the number of people in your household and your income.
  • If you qualify, ultimately you can discharge all of your debt and owe nothing after the process is complete, including taxes in a very quick timeframe.
  • Keep in mind that this will remain on your credit for 10 years, however, you actually can still get new credit card offers a few months after discharging, qualify for a home loan two years after discharge, and apply for a student loan after three years.
  • As you can see, this is a good option to quickly eliminate debts and still accomplish all of your life goals before the 10 year mark on your credit disappears, just keep in mind that you can't file again for 8 years.

Chapter 13

  • Is an organized repayment of debts that the courts sponsor.
  • A trustee will be responsible for your financial life for 3-5 years, take your finances to the edge and establish a payment to themselves each month.
  • If you miss one of these payments, the plan is then canceled and you would have to start over from scratch.
  • In sum, Chapter 13 is debilitating, typically over 70% of cases don't complete the plan. This is because circumstances can drastically change over a 5 year period and emergencies can surface.
  • However, sometimes you can convert a Chapter 13 into a Chapter 7, and you may be able to file Chapter 13 sooner than the delays experienced between Chapter 7's, but consult with a Bankruptcy attorney about your situation for more information.

  • The average national cost for Chapter 7 is around $1,800, but this will vary by state.
  • Chapter 13 varies, but expect to pay $3,000 or more.

It is possible to file Bankruptcy for both Chapter 7 and 13 without a Bankruptcy attorney but it is not recommended or usually worth it. Working with a professional is advised since this is a legal process.

  1. No impact to your taxes, unlike Debt Settlements where you could still owe taxes after everything's settled
  2. Usually lower cost, especially Ch. 7
  3. Ch.7 is the fastest way out of debt
  4. You're under court protection which eliminates, judgements, liens, and wage garnishments

  1. There is a period of time where it impacts your credit and may impact your immediate financial goals.
  2. It's public. This doesn't impact most people unless you happen to work in financial services or the government, in which case they are sensitive to previous Bankruptcies if it shows up in a background check.

There's no way to sugarcoat it, filing Chapter 7 or Chapter 13 Bankruptcy will cause a pretty hard hit to your credit.

After a Chapter 7 discharge, you can start rebuilding credit immediately. Given that a Chapter 13 Bankruptcy can take up to five years to complete, there likely won't be any meaningful credit rebuilding opportunities until it's complete. 

There is no "during" period when filing Chapter 7 because it's over so quickly. As for Chapter 13, you're unfortunately in credit purgatory until your payments are complete. This can take up to five years so there won't be any updates to your credit report until you're done with all the payments.

A bankruptcy remark will show on your credit report for 10 years after filing Chapter 7. However, 90 days after discharge, your credit can start to bounce back quickly.

A bankruptcy remark will show on your credit report for 7 years after filing Chapter 13. So if you think about it, since Chapter 13 takes up to five years to complete, credit repair can't even begin until you're two years away from having it come off of your report entirely, and you'll essentially be starting from scratch. 

You can apply for credit cards, loans and car loans right after discharging Chapter 7 and Chapter 13 Bankruptcy. However, the rates may not be ideal. You can apply for a mortgage 2-3 years after discharging as well.

Please keep in mind that both types lead to the same credit opportunities post-discharge, but because Chapter 13 is a much longer process than Chapter 7, it has a much lower success rate. If you miss a payment during Chapter 13, you can lose the plan and end up even farther away from your financial goals.

We can connect you with licensed professionals in your state that will give you a no-cost initial consult. We can also help you understand what Bankruptcy would do or mean for your financial circumstances.

Not currently but stay tuned! However, we offer this helpful resource for now: where you can find a bankruptcy attorney near you.



A Debt Management Plan (also known as a DMP) is a sponsored repayment where you work with a a non-profit Credit Counseling Agency to pay back your existing debts. These plans typically last for about 4 or 5 years (maximum of 60 months) and will include a fixed payment due on the same day of each month throughout the duration of the DMP. 

In order to begin a DMP, you will need to reach out to a Credit Counseling Agency in your state. The agency will work to reduce the interest on your payments so you can bring down more of the principle. However, you will need steady income as this plan can take as long as 5 years and will consist of fixed monthly payments throughout the duration of the plan.

These plans are highly regulated so fees vary by state. Typically agencies cap the fees at about $50 per month, or 1.7-2.5% of the enrolled balance.

No, a Credit Counseling agency will need to do this for you. However, having said that, your creditors individually may offer hardship plans.

You also have the choice of which agency you'd prefer to work with, but keep in mind that they typically all operate in the same way.

  1. On average, your interests rates for both credit cards and bank loans will be reduced down to 6% which means lower monthly payments.
  2. They may make it more affordable and have a fixed pay off time (60 months/5 years).
  3. Doesn't impact credit score.
  4. You won't have to deal with collectors.
  5. You won't be sued.
  6. It's basically on a repayment plan, with lower monthly payments, that's on autopilot.

  1. They're rigid and inflexible. If you miss a payment, the plan is over. So for example, you could spend 2 years on the plan and miss one payment and have it go back to the original interest rates.
  2.  Accounts enrolled in the plan will be closed. So this means that when the DMP is over, while the debt is paid and your overall utilization is lower, closing an account impacts your age of credit. So if you had an account that was open for 20 years and it's closed after you finish your DMP, that can hurt your credit since age of credit does impact your credit score. However, you can still be added to someone else's account as an authorized user. So if they have a 20 year old account, that age of credit will be transferred over to you and can get those benefits.

There should be no effect. If you already have late payments prior to the DMP, the credit damage has already happened.

Your score shouldn't be impacted during or after a DMP. Your utilization should come down which can help your credit score. However, because your accounts will be closed upon completion of the DMP, this could hurt your age of credit which is a factor in determining credit scores.

Nothing negative should appear on your credit report during this time. Your report should show that you're making your payments on time.

Positive, closed accounts.

You can apply for credit cards, loans, car loans, and mortgages right after the completion of your DMP. You will likely see an abundance of offers.

We can connect you to a trusted partner, who will talk to you at no cost and provide an exact payment quote. Then you can evaluate if it's a good option for you and your financial circumstances.

No, we do not offer either of these services at this time, as we are not a Credit Counseling Agency. However, once you complete your profile, our system will be able to determine if Credit Counseling may be a good option for you and will point you in the right direction for next steps. We're also happy to speak with you to discuss further, just send us a message!



Nope. Debt Management usually involves working with a Credit Counseling agency that seeks to lower interests rates on your existing loan/credit debts. Whereas Debt Consolidation usually means taking out a large loan from a creditor to cover the balance of all of your existing loan/credit debts.