Credit Card Debt Negotiation - How To Legally Eliminate Credit Card Debt

Credit Card Debt Negotiation - How To Legally Eliminate Credit Card Debt

Looking for credit card debt negotiation to legally eliminate your credit card debt? Well in that case you are advised to hire a professional debt settlement firm for the best results. You will have the option of negotiating with the creditor on your own but a professional help is far better. This is because of the fact that a professional settlement firm has a complete knowledge of the banking system and knows how to deal with the creditors using the loopholes present in the whole banking system.

When you hire a professional firm, a professional negotiator will be assigned for your case. The negotiator will ask you several questions and will also ask for all the relevant information about the debts that you have. You will have to be honest and you need to provide all the information accurately so that not even a single problem comes up during the negotiation process. The negotiator will study all the information that you provide and will then come up with a repayment plan. Remember that a creditor will always look for a repayment plan when a negotiator approaches the lender. So, accurate information to create the best possible repayment plan is necessary.

After the plan is made, the negotiator will simply advice you to stop paying a single dime to the lender and once you do so, the negotiator will mail a letter to the creditor stating the reason of your failure to repay and will also mention that you will not be able to repay henceforth and that you are requesting a settlement deal.

After the delinquency, the creditor decides to wait for 12-16 weeks after which the creditor takes a tough decision and hires a collection agency. The decision is tough for the creditor because of the fact that the collection agency stays gainer and repays a mere 20-30 cents per dollar recovered from you to the creditor. This particular deal is traced by the negotiator and the person then directly contacts the creditor with an offer more lucrative and appealing than the deal with the collection agency. The new offer will promise 30-50 cent per dime and a request for eliminating the remaining amount will be placed. This new deal will mean twice as much of recovery as in case of collection agency and hence the creditor will agree. The lender will then wipe off at least 50% of the dues and you will have to repay the remaining amount.

This is a completely legal and authentic method of debt relief and will mean a debt free and financially healthy life for you!

Debt settlement is a viable option to filing bankruptcy and is becoming increasingly popular amongst Americans with over $10k in unsecured debt. Creditors are ready to negotiate. You can literally eliminate 50% of your unsecured debt with a settlement.

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