Owe More Than $10,000 - Debt Settlement is the Best Financial Relief Option Today
Owing more than ten thousand dollars on your credit card debt or to any unsecured lenders will not automatically qualify you for debt settlement.
However, considering the recessionary times today and the fact that unemployment is at an all time high, an average person who owes more than ten thousand dollars invariably stuck deep in financial trouble.
This is where debt settlement enters the picture.
What does this the financial solution provide? You can get rid of a significant portion of your debt without repaying even a single cent.
Simply put, debt settlement is when you raise your hands and specify that the there is no chance you can successfully repay ten thousand dollars no matter how much time the lenders prepared to give.
Of course, lenders are never ready to wait forever for the money.
They prefer disposing the account to a debt collection agency to salvage whatever little they can gain from it.
Further, the stimulus package has changed the way lenders and debt collection agencies deal with borrowers.
Hence, you can easily secure sixty to seventy percent waiver on the amount owed.
Why does this make settlement the best option available today? There is no other tool that will see you owing ten thousand dollars on day one and three thousand dollars on the next day when the settlement agreement is signed.
The remaining amount needs to be repaid over a period of twelve to twenty four months.
Some lenders are even prepared to offer thirty six months if the amount owed is very high.
However, this does not mean that securing this financial relief is very easy.
If you do not have the ability to make repayments, you will have to tolerate frequent collection calls from the creditor.
A lot depends on how quickly you can accumulate the basic amount required for the settlement company to initiate negotiations.
Even then, it takes a lot of discipline to accumulate money month after month to deposit in the account jointly held by you and the debt settlement company.
There is no doubt that debt settlement will help you overcome even the most insurmountable financial problem.
However, do not make the mistake of presuming that you can get rid of ten thousand dollars debt without breaking a sweat.
A lot of hard work will have to be done before you can truly claim to be free of debt problems.
However, considering the recessionary times today and the fact that unemployment is at an all time high, an average person who owes more than ten thousand dollars invariably stuck deep in financial trouble.
This is where debt settlement enters the picture.
What does this the financial solution provide? You can get rid of a significant portion of your debt without repaying even a single cent.
Simply put, debt settlement is when you raise your hands and specify that the there is no chance you can successfully repay ten thousand dollars no matter how much time the lenders prepared to give.
Of course, lenders are never ready to wait forever for the money.
They prefer disposing the account to a debt collection agency to salvage whatever little they can gain from it.
Further, the stimulus package has changed the way lenders and debt collection agencies deal with borrowers.
Hence, you can easily secure sixty to seventy percent waiver on the amount owed.
Why does this make settlement the best option available today? There is no other tool that will see you owing ten thousand dollars on day one and three thousand dollars on the next day when the settlement agreement is signed.
The remaining amount needs to be repaid over a period of twelve to twenty four months.
Some lenders are even prepared to offer thirty six months if the amount owed is very high.
However, this does not mean that securing this financial relief is very easy.
If you do not have the ability to make repayments, you will have to tolerate frequent collection calls from the creditor.
A lot depends on how quickly you can accumulate the basic amount required for the settlement company to initiate negotiations.
Even then, it takes a lot of discipline to accumulate money month after month to deposit in the account jointly held by you and the debt settlement company.
There is no doubt that debt settlement will help you overcome even the most insurmountable financial problem.
However, do not make the mistake of presuming that you can get rid of ten thousand dollars debt without breaking a sweat.
A lot of hard work will have to be done before you can truly claim to be free of debt problems.