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This infographic was submitted to us by the good people at Debt Consolidation Care.com. Here is what they had to say upon submitting their infographic to us:
DebtConsolidationCare Community has developed a financial infographics on debt settlement process. This infographic helps you know what happens in a DIY debt settlement. That is, when the debtor successfully negotiates a reduced payoff amount with a creditor. Going through the graphical representation will also help you know how a debt settlement company can help a debtor when he/she cannot settle debts on his/her own. The settlement company can negotiate with the creditor to reduce the payoff amount and decide upon a single monthly payment that the debtor has to pay to the settlement company every month. When enough is accumulated, the settlement company pays the creditor the payoff amount as per agreement, and thus the debt gets settled.
Debtors often ask questions in DebtCC forums regarding what actually happens in debt settlement. So, the primary reason behind these finance infographics created by the DebtConsolidationCare Community is to clear the misconception regarding the debt settlement process. This graphical representation can make it easily understandable for the debtors who are looking for suitable solutions to solve their debt problems.
This cannot really be called an infographic since it is so short and contains virtually no data visualization. It is actually a flow chart, which could be incorporated into a full infographic very easily, but does not count as one on its own. Other than that, the design is decent enough for its purpose, but could benefit from a more interesting font and paring down of the text.0