Debt Reduction

Debt Reduction Negotiations/Debt Relief

Should you file bankruptcy? While this is sometimes the only answer there are times when it may be avoided. We can assist you in negotiating the terms of your debts, such as credit cards, so that they can be paid off in a reasonable period of time and bankruptcy avoided. In some situations credit card balances may be reduced to about 10% of their original balances. In such cases creditors almost always require that the entire balance be paid off in cash. For this approach to work, most or all creditors need to agree to the level borrower is able to pay up to. More typically, about 25% of the original debt needs to be paid over a period of time. Sometimes it is possible to arrange a payment plan. Best debt settlements, however, are available if you are able to settle the entire debt in one payment. There are, however, instances where some creditors are too stubborn to agree to take less than the full amount. A good-faith case of possible bankruptcy may help in negotiating debt settlement in these situations.

Some assistance regarding debt collections, debt relief or debt settlement may be obtained at following web sites:

Consumer Law Issues: www.consumerlaw.org (Truth in Lending, Fair Debt Collection Practices Act)
Debt Counseling: www.nfcc.org, 1-800-388-2227, or www.aiccca.org 1-866-703-8787
Debt Settlement: www.consumerfed.org/finance/credit_counseling.asp
Debt Settlement: www.defendyourdollars.org/2010/01/what_you_need_to_know_about_de.html
Debt Settlement: www.consumer-action.org/alerts/articles/debt_settlement

We are a debt relief agency