2. Introduction
ïœ Basically Debt Settlement is the process of offering a
large, one -time payment toward an existing balance
in return for the forgiveness of the remaining debt. It
is also known as debt negotiation or credit
settlement.
3.
4. The Downside of Debt Settlement
ïœ A debt settlement generally requires you to come up
with a substantial amount of cash at one time.
Remember, this is what makes the debt settlement
attractive to your lenders. Instead of receiving
minimum monthly payments for the next few years,
they're getting a much larger payment now.
5. How to Attempt a Debt Settlement
ïœ If you decide that a debt settlement is the right move
for you, the next step is to decide if you want to do it
yourself or hire a professional. In making this decision,
it's important to keep in mind that your credit card
company must deal with you and that a debt
professional has no real ability to negotiate a better
deal than the actual account holder.
6.
7. Benefits of Debt Settlement
ïœ Eliminate the Debt
ïœ Save Money
ïœ Stop Collection
8. Eliminate the Debt
ïœ If you have ever tried to get a loan while you had a
lot of debt, you know that it is tough. Lenders look at
your debt to income ratio and are not willing to work
with because of the high debt load. When you
eliminate your debt, you open up the lines of credit
for future possibilities.
9. Save Money
ïœ When you successfully navigate through the debt
settlement process, you will save quite a bit of money.
Depending on how big the debt is and how badly the
company wants to settle, you could save thousands of
dollars.
10. Stop Collection
ïœ One of the worst parts about owing money is the debt
collection process. When you have delinquent
accounts, debt collectors will continually call you and
try to collect the money. They may call you every day,
sometimes more than once a day. They will mail you
letters and take whatever means is necessary to
collect the debt. They may even file a lawsuit against
you.
11. Who I AMâŠ
ïœ Century Law Firm Reputation is a debt settlement
company who offers the various debt relief programs
based in the Florida.