Debt Negotiation

Debt Negotiation Overview

Debt negotiation or debt arbitration is the process of reducing your debt by as little as 38 % depending upon the creditor. Debt settlement is only recommended for those who are behind on their payments, and cannot see any way of repaying the full amount of their debt back.

Many of you may have received a phone call from a company that offers to negotiate on your credit cards. Don't be duped by these fantastic offers. In my experience, they are nothing more than a scam to defraud consumers out of hundreds or thousands of dollars.

What occurs in a debt settlement is first a quote of your total unsecured debt. Your state, total debt, and number of months available for a debt settlement payment plan is then calculated. Once an affordable monthly payment can be determined, a calculation of your total debt savings is determined. You would then be set up on a monthly payment plan where your funds are electronically drafted from your checking or savings account into a FDIC non-interest bearing savings account. The benefit of debt settlement is that when you do not have a lump sum saved up, you have zero negotiating power with your creditors. They always want a lump sum, or three large payments that most people in financial distress cannot afford.

In addition to setting you up on a payment plan, you are educated on the appropriate ways to deal with creditors, what not to say, and how to demonstrate you are in financial hardship.

Debt Settlement does have a negative impact upon your credit score from stopping regular payments to your creditors, but the people we recommend for debt settlement are already behind on their payments, and have already harmed their credit score. Since 35% of your credit score is based upon your payment history of making payments on time, that is how it is damaged.

However, 30% of your credit score is based upon your debt to income. When your debt is very high, especially across several credit accounts, it is not wonder that you are considered a higher risk and that reduces your credit score. Reducing your debt in 4 years or less is the key to taking the appropriate steps to financial independence, and repairing your credit once again.

For a no cost, no obligation quote on your financial situation, contact us now.

Ranking (s) Debt Management Programs Benefits Of The Program   How To Be Debt Free
1 Debt Settlement  Debt Settlement rating - 5 stars
Debt Settlement -Reduce your debt by 60%		 Lower your monthly payments by settlling your balance for as low as 38% of your debt. Must be credit cards, personal loans, collections, and medical bills. Some pay-day loans included as well. A Better Alternative to Bankruptcy -Cheaper and Better On Your Credit Score.
 Debt Settlement Review
Rating: 97%
Rate and Review  Review Debt Settlement
2 Debt Management Credit Program (DMP)  Debt Management Rating - 5 stars
Editor's Debt Management Choice		 This option allows you to pay back your unsecured debt at lower interest rates. Regardless of your credit score, these interest rates are pre-negotiated rates, some as low as 5.9% fixed depending upon the banking institution you are with. Lower those interest rates and pay that debt off without harming your credit score! Debt Management Credit Review
Host Rating: 97%
Rate and Review The DMP  Review DMP

Disclaimer: Always consult with one of our account managers regarding your financial scenario to fit the best situation for your financial needs


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