Credit Card Debt Settlement
Debt Negotiation & Debt Reduction
Settle Debts For Less Than What is Owed!
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A Debt Settlement is a process used by both debtors and creditors to settle a debt for less than what is owed. The process is also called Debt Negotiation and Debt Reduction. Most often the process is used to negotiate a credit card debt settlement, although a settlement can be reached on many kinds of debt, including medical and utility bills, business debt, and sometimes even secured debts, such as, personal loans, auto loans, and promissory notes.
If you have already decided that a debt settlement program is right for you, simply call 1800 DEBT.COM (That's 1800-332-8266) for a FREE Debt Consultation. A certified debt counselor will discuss your financial situation and will be able to place you in a debt settlement program that is suitable for your particular needs.
If negotiated properly on behalf of the debtor a debt settlement can quickly and dramatically reduce the debtor's debt. Debt settlements range from 30% to 70% of the current debt, with the typical debt settled for 45 cents on the dollar. After paying agency fees, a typical client realizes a savings of around 20% to 40% of their original debt placed in the program. Most debtors resolve their debt in 1-3 years!
Debt Settlement Programs, their fees and results can vary greatly depending on many factors, including, but not limited to, the skill of the settlement negotiator, who the creditors are, state laws and the professionalism of the debt settlement company. To learn more and for additional resources go to Debt Settlement Reduction.
While you may want to negotiate your own settlements, it may be best working through a professional debt settlement agency who knows the ropes and can watch out for your best interest. There is definitely a right way and a wrong way to handle this procedure.
To learn more we highly suggest that you speak to a debt counselor by calling 1800 DEBT.COM for a FREE Debt Consultation. There is absolutely no obligations and a certified debt counselor can help you determine the best option for your particular needs.
Please note however, that there are many companies that offer debt settlement services who make false claims and fail to meet its stated obligations. Before contracting with any agency be sure to do your due diligence. Research the firm, their BBB report, ask questions, get references and be sure that you completely read and understand any contract that you are required to sign.
In order to qualify for a Debt Settlement Program a debtor needs to be in financial hardship with at least $10,000 of credit card debt, or other unsecured debts, such as, medical bills and utility payments. For those debtors with less than $10,000 of debt, typically they are better off seeking a Debt Management Programs.
If you are overburdened with debt, don't wait until bankruptcy is your only viable option. Check out the resources available on our website and call 1800 DEBT.COM for a FREE Debt Consultation.
Debt Settlement Featured Articles:
In general, a debt settlement company negotiates on behalf of the borrower with each creditor placed in the program to settle the overall debt in exchange for an agreed upon settlement payment to be made by a specific date. Click to read more ...
Debtors who are contemplating seeking a Debt Settlement plan are often concerned about the effect their action will have on their credit report. Let's get right to the point. Click to read more ...
There are three main objections to consumer debt settlement: the possibility of lawsuits, the damage to credit history and resulting IRS tax consequences of debt forgiveness. Click to read more ...
The above 7 page article includes the following sections:
Introduction: Debt Management versus Debt Settlement
Seeking Relief Through A Debt Reduction Settlement
Debt Management Through Consumer Credit Counseling
Which Alternative is Right For You?
Important Facts That Must Be Considered
Debt Settlement and Financial Articles:
Do-It-Yourself Debt Settlement & Debt Settlement Kit
Your Alternatives When Faced With Financial Hardship
FAQ Relating To Debt Cancellation and Foreclosure
Charge-Offs: How it Relates to Consumers and Credit Report
Out of Work? How To Deal With Creditors
Insolvency: What It Means To Be Insolvent
Knee Deep in Debt? Self-Help Guide
Practical Advice On How To Save and Manage Money
Default: Failing To Meet Your Legal Obligations
How To Manage Your Debts To Regain Financial Health
Debt Consolidation: Do You Know the Facts?
Ways to Cope Financially During and After a Big Change
Helping Your Money Last... After Your Last Paycheck
Guide To Understanding Foreclosure
Deficiency Judgment (On Foreclosure Sale)
Business Debt Restructuring and Debt-for-Equity Swaps
Mortgage Payments Out of Control? Here's What to Do
After You Retire: Managing Your Expenses on a Fixed Income
Beyond The Statute of Limitation: Time-Barred Debts
Taking Charge of Your Credit Cards
Debt Consolidation Options
What is an Offer in Compromise
What You Must Know Before Filing an IRS Offer in Compromise
Tips for Protecting Your Home From Foreclosure
Foreclosure Prevention Frequently Asked Questions
A Word of Caution For People On A Debt Management Plan
Mortgage Payments Out of Control? Here's What to Do
Tips For Parents:Teaching Children The Financial Facts of Life
Credit Matters: A Primer on Credit Card Use
Home Loans: How to Keep Costs from Going Through the Roof
Guide To The New Bankruptcy Laws
Guide to Understanding Contracts