Important Facts about Debt Settlement
Introduction ď ˝
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.
The Downside of Debt Settlement ď ˝
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.
How to Attempt a Debt Settlement ď ˝
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.
Benefits of Debt Settlement
Eliminate the Debt Save Money Stop Collection
Eliminate the Debt ď ˝
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.
Save Money ď ˝
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.
Stop Collection ď ˝
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.
Who I AM‌ ď ˝
Century Law Firm Reputation is a debt settlement company who offers the various debt relief programs based in the Florida.