Negotiate credit card debt » Aggressive Approach

How To Avoid Bankruptcy & Get Out Of Debt Faster Using Debt Negotiation!

admin — Wed, 23 Jun 2010 08:31:57 +0000

Has credit card debt got you thinking about bankruptcy?

You’re not the only one these days. Even with the new bankruptcy laws, credit card debt continues to climb. Unfortunately for most of us, our paychecks don’t climb as quickly.

If you’re on the verge of bankruptcy, you may have another alternative.

Debt negotiation is a process where you negotiate with your creditors to pay off your debts at a reduced amount – for example, if you owe $12,000, you can negotiation a payoff of $5,000. The benefit for the creditor is that they get more money than they may have through bankruptcy, and they get the money sooner. The benefit for you is obvious – you get out of debt faster, and save lots of money in interest.

Where do you get the money to pay off the debt?

Take the money you would have normally used to pay your credit card bills, put it aside, and when you accumulate enough to pay off the debt, send in the reduced amount you agreed to.

If this sounds confusing, that’s ok. It’s really not.

There are many professional companies that will do all the work for you, and charge you a percentage of the savings.

I can speak from experience (I built up a lot of debt trying to start a sporting goods business, which didn’t quite work out) that even with the fees, this is a good deal – plus you save a lot money by not having to pay the high interest rates on your credit card bills.

Sure, it is a more aggressive approach to getting out of debt than making minimum payments, using credit counseling, getting a debt consolidation loan, or borrowing from a friend or relative. But in the end, you’ll get out of debt faster…

And avoid bankruptcy!

If you’ve never heard of debt negotiation (also called debt settlement), that’s ok too, not many people have. I didn’t until I began to seriously consider bankruptcy.

One reason many people are hesitant to consider debt negotiation is that it goes on your credit report. Sorry to tell you, but having lots of debt (even if you pay on time), making payments late, even credit counseling – all go on your credit report and can negatively effect your credit. And (of course) bankruptcy is a big negative!

In my case, getting out of debt, removing all the financial stress, and being able to live a normal life were well worth it. With so much debt, having good credit was meaningless anyway.

Plus, I was able to get all but one of the negative items off my credit report (that’s a topic for another discussion), and my credit is now back to normal. In fact, I now get more credit card offers than I can handle – and fortunately, I can now throw them all in the trash!

When money is tight, and debt is high, there aren’t many simple answers.

But if you are already considering bankruptcy, then debt negotiation might be the right alternative to help you get out of debt faster!

By: Kris Bickell

How To Get Out Of Credit Card Debt

admin — Thu, 11 Feb 2010 05:10:23 +0000

If you’re one of the millions having financial difficulty you’re not alone. Sixty-five
percent of Americans are in serious debt and need a viable and safe debt relief
solution. That’s why many consumers turn to attorney debt negotiation professional
debt help.

What is attorney debt negotiation? It is an aggressive approach to consumer debt reduction. And it may be appropriate for consumers with serious amounts of unsecured debt and are experiencing legitimate financial hardships. It also may be appropriate if you cannot afford to repay or get out of debt by making minimum payments to creditors and also want to avoid filing Chapter 7 and 13 bankruptcy.

Attorney debt negotiation is an ethical debt relief service that allows consumers to reduce unsecured debt such as credit card debt, unsecured debt, medical bills or accounts in collections through proven legal processes. Debt reduction has helped thousands of debtors to get out of debt safely and is backed by U.S. Federal Laws.

How effective is your debt negotiation program? To date, the debt reduction techniques the Law Firm uses to negotiate your unsecured creditor debts has worked 100% of the time.

Attorney debt negotiation is so successful because the settlement attorneys use special legal techniques that only attorneys know how to use. These attorneys use powerful and complex Federal and State consumer statutes such as the Fair Credit Billing Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, and the Truth In Lending Act.

if you want safe, legal, & proven debt reduction, you have a solution.

By: Paul Young

Which Debts Are Eligible For Debt Negotiation?

admin — Sat, 05 Dec 2009 13:21:02 +0000

Debt negotiation, also called debt arbitration is an aggressive approach to paying off your bills by reducing the amount of the balance that is owed on your unsecured debts. Also this is perhaps one of the best alternatives that you have to filing for bankruptcy. Debt settlement is becoming a more accepted method of getting out of debt and there are more agencies available to help people negotiate with their creditors.

This is not something that should be undertaken lightly. Once you enter into a debt settlement program it is something that you should follow as it is agreed upon. If you are not in position to do this, you may want to consider bankruptcy. But if you are serious and have the resources, this is a method that will get you out of debt relatively quickly and can save you a lot of money.

There are many types of accounts that can be settled through negotiation. Here are some of the accounts that are eligible:

*Credit Cards

*Medical Bills

*Department Store Credit Cards

*Gas Credit Cards

*Unsecured Personal Loans

*Past Due Rent

*Auto Repossessions

*Utility Bills

There are some debts that you will not be able to enter into a program. These are:

*Mortgages

*Car Payments

*Student Loans

*Secured Loans

*Income Tax Payments

Debt negotiation organizations can negotiate with your creditors to get your eligible balances reduced by a certain percentage that normally ranges from 30-50%, but can be as much as 85%. You will make monthly payments to the debt settlement agency and once the agreed upon amount is paid to the agency, they will in turn pay your creditors one-by-one.

Normally, the debt settlement company will have all the future contact with your creditors. Your creditors will deal with credit counselor as they negotiate your debts to come to a payment arrangement that is acceptable to both you and your creditors.

Most companies want their clients to have at least $10,000 in debt and each account must be at least $1,000. If your debt is less than this amount, there are other methods of paying off your accounts that would work better for you.

Entering into a program is not an easy decision, but debt negotiation can get you out of debt quickly and can save you a lot of money. Once you have enrolled in a program to payoff your bills, you will soon be able to concentrate your efforts on rebuilding your credit and getting your finances back on track.

By: Arlene Schneider