What Happens After a Settlement Is Reached?

TABLE OF CONTENTS

• 1. You Review and Approve the Settlement Terms
• 2. Funds Are Disbursed from Escrow
• 3. DCG Obtains a Settlement Confirmation and Release
• 4. Your Program Progress Is Updated
• 5. Focus Shifts to Next Creditor

Once a settlement is successfully negotiated and approved by you, the final phase of that account’s resolution begins. This step is critical in ensuring the agreed terms are honored, the debt is officially closed, and your business continues progressing toward full financial recovery.

Here’s what happens next:

1. You Review and Approve the Settlement Terms

Your Case Manager or a member of our team will present you with the full details of the proposed settlement, including:

• Original balance owed

• Negotiated payoff amount

• Payment deadline or schedule

• Any supporting documentation or required signatures

You maintain full control—no payments are made until you provide written approval.

2. Funds Are Disbursed from Escrow

Once you approve the settlement, funds are withdrawn from your third-party escrow account and paid directly to the creditor, typically via wire transfer or certified check. The payment is made in strict accordance with the agreed terms.

In some cases, a creditor may agree to a payment plan (multi-installment settlement), in which case payments will be made in stages as per the agreement.

3. DCG Obtains a Settlement Confirmation and Release

After payment is completed, DCG obtains written confirmation from the creditor stating that the account has been settled in full. This may include:

• A “Settlement in Full” or “Paid for Less than Full Balance” letter

• Release of any future liability or collection activity

• Confirmation that the account is considered resolved and closed

This documentation is stored in your client file and can be provided to you upon request for your records or for any future disputes.

4. Your Program Progress Is Updated

The resolved account will be marked as “settled” in your client portal, and your overall progress in the program is updated accordingly. This helps you track your remaining enrolled accounts and see how close you are to completing the program.

5. Focus Shifts to Next Creditor

Once one account is settled and closed, DCG shifts its negotiation focus to the next creditor on your list. The funds in your escrow account will continue to build with your scheduled payments, preparing you for the next round of negotiations.

Each settlement you complete is a major milestone on your path to financial stability. Our team ensures every step is handled carefully, professionally, and in accordance with legal and regulatory standards—so you can move forward with confidence.