subject: Debt Negotiation and Settlement - How Stimulus Money Aids Consumers in Debt Settlement [print this page] Debt Negotiation and Settlement - How Stimulus Money Aids Consumers in Debt Settlement
As after math of the economic melt down, liquidity in the market became very less and hence the banks and many financial giants were not able to maintain the equilibrium of inflow and out flow of cash and hence fell face first. At such times the federal government had to come to the rescue because things were getting really ugly because of the slowed down business and down sizing, many lost their jobs and for those who were doing businesses they no longer were making any huge profits. As a consequence the genie was out of the bottle and people were no longer able to pay their credit card debts and the survival not only for the debtors but the creditors became very difficult. Thus the government then had to release stimulus money into the economy that could aid debtors to pay off their debts on reasonable terms.
The stimulus money also encouraged the creditors as they started to agree to relax their terms to the maximum. As they had enough money due to the stimulus money in their reserves to balance the cash flow and getting something back from the debtor rather than getting nothing will at least bring some liquidity into the market. People started to flux to Debt Relief firms who could negotiate on their behalf with the creditors so they could get them as much wavier as possible. As according to one of the Debt Relief program; Debt Settlement, the debtor does not has to pay the total amount owed to the creditor and thanks to the stimulus money the forgiven debt can be up to 60%. Where as the recent tax break policy where the debtor doesn't have to pay tax on the forgiven debt anymore has made this option more alluring. Therefore one must strike while it's hot and it can't get hotter than this.
Therefore debtors should immediately render the services of any professional licensed Debt Relief firm that could broker deal between them and the creditors that also on very favorable terms as the creditors are desperate and the stimulus money has made them more than willing.
Debt settlement is a viable alternative to filing bankruptcy. Most consumers are able to eliminate at least 60% of their unsecured debt while avoiding many of the negative consequences with filing bankruptcy. If you are over $10k in unsecured debt you will be eligible for debt settlement.
