Everything is negotiable in the market and this is one the biggest fact. If you have a fair knowledge and a witty negotiation skill, it is easy to bargain on the prices no matter how fix were the terms. Debt settlement is something of this kind. Having a flair knowledge and gut, it is actually possible to cut down your debt balances, this is true. You can also look for some expert settlement consult and could save your money against a minimal fee to the consultant.
Debt settlement is offering a one-time, however, large lump-sum payment against an existing debt balance, in return for the absolution of the remaining debt. For example, someone who owes $20,000 on a single credit card may approach their credit card company and offer a one-time payment of $15,000. In return for this one-time payment, the credit card company agrees to forgive or erase the remaining $5,000.
Now the question arises that why would a credit issuer willingly choose to give up a considerable portion of the balance it is owed? The answer is very simple: because the credit card issuer is either in short of money, strapped for cash itself or is under the fearful of ultimate inability of the borrower to pay off the balance amount. Hence in order to protect its own financial bottom line, the credit lender agrees to settlement. A bird in hand is all the more better than two in the bush. The key point to be noted here is since the lender or the credit issuer is trying to safeguard his interests, borrower has a chance to negotiate. Another big fact supporting here is credit cards generally represent unsecured loans, which means that there is no “collateral” your credit card company can seize to help repay an unpaid balance. This is an added advantage
The individuals with a big hefty debt on their credit cards and absolutely unable to pay it off, debt settlement could be a savior. The debt balances referred here are generally $20,000 or more. You need to work with a debt settlement specialist, who can help you to negotiate with your creditors to lower the amount, which you currently owe.
Different solutions are available in different forms for those who need relief from high-interest credit card debts but are unable to fulfill their financial obligations. These include debt settlement, debt consolidation, credit counseling or could be bankruptcy. Depending on the debt level, these options help reduce the payments, help you save more money and reduce your debts.
If you are a debt settlement company and are in need of Exclusive and Motivated Debt Settlement Leads which are transferred live to your phone reps, then visit www.inspirecs.com or call 1-800-986-9315 Ext 1 and speak to one of our sales consultants.