Legal Debt Relief Methods – How To Make A Legal Debt Settlement Offer

legal debt settlement
by wallyg

Legal Debt Relief Methods – How To Make A Legal Debt Settlement Offer

Making a legal debt settlement offer needs a bit of expertise in the field of financial sector. If the consumer wants to offer a debt settlement deal, he or she must have some knowledge about the banking system and the loopholes present in the system. Unfortunately, most of the consumers do not have this expertise and hence a professional help is far more beneficial.

The professional negotiator from the debt settlement company hired by the consumer makes the offer in a professional way. There is a slight touch of implicit threat along with the offer. However, the threat is not made in an ugly way. Staying within the limits of the financial system, the threat is put forward in a professional manner.

When the negotiator takes over the case of settlement, he asks the consumer to stop paying the creditor. By delinquency, the negotiator means complete delinquency which means that the consumer is not supposed to pay even the minimum amount due. With this delinquency in place, the creditor is left with the option of selling the debt to a collection agency after a waiting period of 3-4 months. The collection agency takes the advantage and agrees to pay back only 20% to a maximum of 30% to the creditor from the money recovered.

Here the negotiator contacts the creditor and offers a far better deal. The negotiator offers 30-50% repayment and that too in bulk on one condition. The condition is that the creditor will have to consider that payment as full repayment of debt. The negotiator here uses the implicit threat of bankruptcy.

This means that the negotiator states that the consumer will select bankruptcy in case this deal is kicked off!

The creditor agrees and the eliminates at least 50% of the dues that the consumer has. This is how a person puts forward the offer of debt negotiation.

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. is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.

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