subject: Debt Repayment Options - How To Negotiate Your Liabilities So You and Your Credit Card Company Win? [print this page] If I say that now, you have opportunities to negotiate your massive liabilities so that you and your creditors may win, then you will certainly be astonished from this statement and ask that how it is possible that by negotiating my debt both parties could win?
Yes, it is possible that you both can win, let me elaborate this statement. The recent financial turmoil has brought very devastating impacts not only for debtors but also for creditors because in the case of default of the debtors, the creditors may have to declare themselves financially default.
They lost money which they have acquired from other sources to do business by advancing loans and generate profits from huge spreads. That's why they are trying their best to keep you away from declaring yourself bankrupt.
On the other hand, if the large number of debtors declared them bankrupt, then it will bring very shocking effects for the recently rescued financial system as the national and international investors will certainly suck out their investments by seeing the panic due to increased rate of consumer default.
You can reach at win-win situation by negotiating your creditors and asking them that you haven't any sufficient resources nor you have any hopes that you will able to stabilize your financial position in future so, if your creditors refused to allow any relief in the shape of reduction in your massive liabilities, then you have only option left which is bankruptcy.
Your credit card company will never refuse you to reduce your debt to even more than 50 percent because on one hand, they are recovering their money partially, which they have almost lost before and on the other hand, they are being compensated by the government's offered stimulus money.
So, you do not need to worry any longer that your creditors will suffer losses. No, you both will be on win-win situation and the government too will be the winner because the consumer default rate will decrease and investor's confidence over the whole system will restore. So, you must negotiate with your creditors without considering any external factor to repay your massive liabilities.
If you have over $10,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt settlement deals.
Debt Repayment Options - How To Negotiate Your Liabilities So You and Your Credit Card Company Win?
