Do you wanna know how to resolve your debts completely on your own?
If you are considering settling your debts on your own, it’s important to be prepared as much as possible.
If you are in financial hardship and you just can’t afford to pay what you owe, then you may want to consider going with a debt relief company or settling your debts on your own.
You may even receive creditor calls or currently receiving creditor calls and you’re not really sure how to handle what the next step is and that’s why we have made this video for you.
We have a complete guide on how to settle your debt on your own.
Number one,make sure that you save money.
It’s important to save aside a certain amount every single month and just don’t touch it because the money that you save every single month, you’re gonna be able to use to call up your creditors and make an offer.
If you don’t have anything saved up into a savings account, then there is no real way that you can call up your creditors and make an offer.
For example, if I had $100 saved up in my savings account, yet I owed $5,000 in credit card debt, the chances of me settling that $5,000 credit card on only $100 dollars is pretty slim.
However, if I saved up within, let’s say, 6 month period of time, $2,500 in that savings account and I call up my creditor or I call up that $5,000 credit card company or that creditor and offer them $2,500, they may consider settling that card and then I’m completely done with it.
Number two,know your creditor’s tactics.
It’s important to know what tactics your creditors use if you are calling them to make a settlement offer, because if they even agree to make a settlement offer and let’s say you make a payment, that’s different than the settlement offer that they agreed to, that offer could be off of the table.
So you want to make sure that you stand firm on what you have agreed to or what you are about to offer your creditors for that credit card.
Number three, repeat the process.
After you settle your first credit card, congratulations! you know that you can do it.
However, it’s not always easy to continually do it because some creditors may settle easier than others and visa versa.
So just make sure that you’re repeating the process, you’re saving as much as you can, and then just be honest with your creditors.
If you can’t afford to pay for it, then you can’t afford to pay for it.
However, if you do have a certain amount set aside, then be honest with how much you have and see if they would be willing to settle with you.
Even though you can settle your debts on your own, it’s not always the easiest and sometimes debt settlement companies have experienced negotiators that can negotiate down your debts easier and more effectively, depending on who you go with.
And if you would like more information about debt settlement or debt relief, contact us today!
How Debt Relief and Debt Settlement Work?
Debt Relief and Debt Settlement is a negotiated agreement by which a creditor accepts less than the total amount owed to legally satisfy a debt.
Settlement programs typically last 24-48 months and are highly dependent on factors such as delinquency, creditor policies, the number of accounts, and the total dollar amount of the debt.
Debt settlement services have existed in some form since the advent of debt itself.
The modern industry has seen significant growth in the 21st century, largely due to the easing of lending requirements by financial institutions.
In addition, today’s borrowers are taking on significantly more debt than their parents had at a similar stage in life and are subsequently paying off that debt at a slower rate.
[ECONOMIC INQUIRY, 2013]
These large debt loads and slower payoffs, coupled with today’s high-interest rates, mean that without intervention many borrowers could be paying off these loans for decades.
While there are a multitude of interwoven causes for these trends, industry experts point to increased access to larger amounts of credit coupled with a reduction in the social stigma of being in debt.
Potential clients speak with a certified debt specialist regarding their financial situation. The debt specialist evaluates the caller’s financial situation and suggests the optimal debt relief strategy. Clients choosing to enroll in our debt relief program are then guided through the enrollment process. Signed enrollment documents are processed and the new client receives a call from our team of dedicated account managers to welcome them to the program. Account managers are available 24/7 and remain in active communication with clients throughout the program. Our talented negotiations team begins working on client accounts immediately. When settlement offers are received they are first reviewed for accuracy and then presented to clients for approval. This process repeats until all client accounts have been settled.
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Enroll into Our Debt Relief Program
Negotiations & Settlement
Debts Resolved!
Your debts will be resolved in a few short years or even months so you can have a new beginning financially.
