Budget-iT
It is a software app for entry of monthly income, expenses and financial planning.

Cease & Desist Letter
Generally, this letter is used to help prevent collection agencies from harassing you with phone calls. The letter instructs your original creditor or the collection company to contact you through the SettleiTsoft system only. Budget-iT does not provide a direct interaction with your creditors.

SettleiTsoft Settlement Plan
Your settlement plan may include all your enrolled creditors, processes and tools that the software uses to assist you in the process of settling your debt. This includes but is not limited to: Account Status, Financial Goals, Settlement Offers, Settlement Savings Plan, Budget Tools, Mobile app and the Settlement Dashboard.

User Enrollment
It is the process of creating a Budget-iT account providing all basic and required information.

SettleiTsoft Software Portal
It is the User Interface to access the SettleiTsoft system platform through the secured URL address https://www.settleitsoft.com.

Creditor
It is an entity to which a contractual debt obligation is owed.

Terms and Conditions
Budget-iT Terms & Conditions
It is a document with specification of restrictions for the use of goods or services.

Budget-iT Profile Section
Where all personal information such as: Name, Address, Phone Number, email address, and when applicable, date of birth and sensitive information is entered and stored.

Debt Settlement
Debt Settlement, also known as debt arbitration or debt negotiation, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full of the outstanding debt obligation. This agreed settlement payment may be paid in one lump sum or in installments.

FDCPA
The Fair Debt Collection Practices Act is a set of federal rules and regulations established by the FTC which regulates debt collection practices. It protects consumers from unfair practices such as lying, harassing, misleading and otherwise abusing debtors, by debt collectors, debt collection agencies and/or debt settlement companies.

Secure Sockets Layer (SSL)
It is a protocol developed by Netscape for transmitting private documents on the internet; SSL uses a cryptographic system that utilizes two keys to encrypt data – a public key known to everyone and a private or secret key known only to the recipient of the message. Many websites use the protocol to obtain confidential user information, such as credit card numbers. By convention, URLs that require an SSL connection start with https: instead of http.

Hypertext Transfer Protocol Secure (HTTPS)
Combination of the Hypertext Transfer Protocol with the SSL/TLS protocol to provide encrypted communication and secure identification of a network web server. HTTPS connections are often used for payment transactions on the World Wide Web and for sensitive transactions in corporate information systems.