In Debt Cures, Kevin Trudeau devotes only 5 pages to getting out of debt using debt negotiation. He also mentions that this is an effective way to eliminate up to 40-75% of your credit card debt.
Debt negotiation is the process of settling your debts with your credit card companies. You may also hear it called debt settlement.
I wanted to give you some more information about debt settlement and debt negotiation so you can see if this would help you get out of debt without having to go through bankruptcy. Many people have left comments about having so much debt that they are considering bankruptcy.
Using debt negotiation may be a better way out of debt without bankruptcy.
Debt settlement is a process to eliminate all your outstanding credit card debts for less than the amount actually owed to the creditors. And when it is done properly, debt settlement can reduce your unsecured debts by 40% or more. Debt settlement is an ethical and honorable approach to avoiding bankruptcy.
Who is debt settlement for?
It is for people who want to avoid bankruptcy but cannot afford the high interest debt consolidation loans and/or have little ability to pay their creditors in full.
Why would credit card companies accept a debt settlement?
If you file bankruptcy, they will get nothing. Be negotiating a reduced payment amount with you or a debt negotiation organization, they will get something from you. This is their last chance to get payments on the money they’ve lent you.
How fast can you get out of debt?
Debt settlement is one of the fastest debt relief methods, usually taking no more than two to three years to complete. Compare this to years of paying minimum monthly payments on your credit cards and paying thousands each year in interest charges.
How does someone start a debt negotiation with a credit card company?
In most cases, people wanting a debt settlement often consult a professional debt settlement company that would work with them and help them with their debts. Using a debt settlement organization and their experience will help you get the best deal for your debts. Keep in mind that these companies often request a fee that ranges from 15 to 20 percent of the saved amount.
Just like you shop for car loans or a mortgage, you can talk to a few debt negotiation organizations before you decide to use one.
Here are a few recommended debt settlement organizations to help you get out of debt:
Consider debt settlement instead of bankruptcy to get out of debt.
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Have a great day!