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You probably are sick and tired of reading one credit card statement after the other month after month. You probably are feeling desperate for a break from the mind numbing phone calls from collection agents that you are receiving on a daily basis. You probably wish that debt relief options were more than just a clichéd phrase that works only for those who have very minor debt problems. Well, you are not alone in this. There are millions of individuals in America today who are as desperate for debt relief options as you are.
So which debt relief options should you focus on? Anybody who promises to offer these relief options without knowing anything about your financial condition and the exact nature of your debt problems is a con man. Financial problems of no two individuals are ever alike. Hence, no two solutions will be the same. However, it certainly is possible to specify general solutions in the form of general debt relief options.
Lenders never encourage informal discussions and negotiations. In fact, they consider it as proof of the fact that you are not very serious about your finances. Either this or they presume that you do not know much about your financial condition and approaching them to find out what exactly is wrong with your finances. If you want some off the cuff informal advice and guidance, you should approach forums and networks on the web. You can find numerous debt relief options here and nobody will blame you or criticize you even if you do not know how you racked up such a huge credit card debt. Hence, drop the idea of walking into the office of your creditor and requesting vague and general help or assistance.
Either you should walk in and seek to consolidate your loan or you should opt for a debt settlement. You should convey that you are aware of the fact that your request may be rejected. However, this does not mean you should be defensive when discussing debt relief options with your creditor. You should walk in with the supreme confidence that you are the best candidate ever to seek debt relief from the lender. This confidence will be present only if you are aware of how lenders work. Having a professional by your side will help you get a better deal.
If you want to get out of debt and hire a debt settlement company for debt negotiation then I have an important piece of advice. Do Not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt.
FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link: Free Debt Advice
debtreliefemergency.com is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.
http://www.debtreliefemergency.com/
What is the best way to settle your debt. Should I contact Credit card bank or debt relief company to settle?
I am a single parent and have close to $ 15,000 in credit card debt. I tried calling credit card company to make an offer in lower amount. Do you think if credit card company settle with in lower amount of payment would it affect my credit history. What is the best way to go
Answer
The credit card co. may be willing to settle for a lesser amount depending on how much you are willing to give them and WHEN (up front, or by making payments?) – This will make a difference, as they would highly prefer a lump sum up front and will be more willing to negotiate with you. Also, it WILL effect your credit rating UNLESS you are wise UP FRONT and tell them your offer is ONLY good under the condition that they do not record a negative comment on your credit report. Negative comments include: “charge-off / re-opened”, “settled.” A good comment, and the one you should insist upon is “paid as agreed.” If you cannot get the exact language then it will effect your credit rating. Tell them your only other option is to declare bankruptcy if they will not agree to the terms. Since a negative comment on your credit report lasts approx. 7 years (depends on your state), this threat may make more sense to them since there’s not much difference between 7 & 10 for you, the consumer. Bankruptcy for you means you’re total clear after 10 years, but they get zero money. They will probably want to negotiate based on this premise. Still, you must be prepared to make a reasonable offer when making these demands.
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