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Credit Card Debt Settlement - Your Free Online Database For Debt Solutions & Free Debt Advice.

How To Use Debt Settlement To Your Advantage

Debt Settlement can be very beneficial if done right. It can provide financial relief as
well as improve a consumers credit rating. But be careful if you are planning to
negotiate a settlement with a collections company or creditor on your own.
Just because you reach an agreement on the amount and settle the debt, your
credit report will still show derogatory information for that account.

Also keep in mind that if decide to settle your debt, you will have to pay
out the full agreed amount, which is very hard for most who are
experiencing financial difficulty.

An alternative is to use a professional Debt Settlement Company that can
negotiate the best terms as well as provide you with the comfort of
low monthly payments.

NOTE: You should not try Debt Settlement if your accounts are current or if you
are just starting to fall behind. In such cases, a Debt Consolidation program will
benefit you most.

In order to settle a debt in your favor, two big objectives must be accomplished.
You must get the creditor to make a deal with you on the amount and negotiate
your credit rating in your favor. Don’t worry; it’s the easiest thing when you have
the knowledge.

First you must always remember that in settlement negotiations, you always have
the natural advantage. You have what the creditor wants! So the first rule of
thumb is to never sound eager to settle. Regardless of how much you owe on the
debt, you want to pay what is comfortable for you. There have been thousands of
people who settled their debs for as little as 25 cents on the dollar, although 50%
of what you owe is considered pretty good.

At first, most creditors and collection companies will try to hold their ground.
Never accept their first or even second offer.
Always be calm and make them think that if they don’t get something from you,
they will probably never get anything at all.
Of course, the older the account the easier the negotiations will be.


 Designed to assist consumers in a financial burden become debt free
 and avoid bankruptcy. A Debt Settlement Program can:

Save consumer up to 75% of their total unsecured debt
Reduce monthly payments by up to 50%
Average consumer is debt free in only 2 – 3 years
Reduce creditor harassment
Help consumers avoid bankruptcy
Alleviate the stress of dealing with annoying creditors
One easy monthly payment

 Simply Click Here to fill out a short form for a free consultation

Keys to a successful Debt Settlement

  • Make your first contact with the creditor or collections company by mail.
    This will always give you the upper hand because they will end up calling
    you to settle. Remember, you want them to come to you because you have
    what they want.
  • Never sound eager to settle or you will lose the upper hand. Never tell them
    that the reason you need this debt settled is so you can get into your dream
    home or car. If you do, you can forget about any kind of deal. The creditor will
    now have the upper hand and insist on the full amount.
  • Don’t accept their first offer, especially the first time they call you after you
    sent the initial letter. Once you are able to get them down to about half of your
    debt. Tell them you need to sleep on it and arrange a time for them to call you
    the next day.
  • Once you and the creditor agree on a mutual amount to settle the debt,
    you must start negotiating your credit rating.
    This is a very important part of your negotiations. A “Paid Collections” on
    your credit report is still very negative and a “Settled Account” is even worse.
    Before you pay the debt, you must have in your hands a letter from the creditor
    stating that the account will be reported to the credit bureaus and updated to
    “Paid as Agreed”

Remember that all your negotiations and money paid to settle will do nothing to
rebuild your credit, unless you have a guarantee in writing that the unpaid collection
will be changed to “Paid as Agreed” on your credit report. Not “Settled”

Richard Jackson
Senior Debt Consultant


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