Debt Negotiation is a service that was developed to help people who can no longer afford to pay their monthly minimums and do not want to file for Bankruptcy. Debt Negotiation is a legal process whereby a consumer retains the services of an attorney to represent them in negotiations with that individual’s creditors.
Hypothetical Example of a Debt Negotiation Service
| 1. |
Credit Card #1 |
Balance Owed = $8,400 |
Negotiation = $4,200 |
| 2. |
Charged Off Account |
Balance Owed = $15,000 |
Negotiation = $7,200 |
| 3. |
Account in Collections |
Balance Owed = $3,600 |
Negotiation = $2,000 |
| |
|
Total: $27,000 |
Total: $13,400 |
Debt Negotiation is the fastest growing and most effective alternative to bankruptcy. Debt Negotiation is not the same as Consumer Credit Counseling or Debt Consolidation. By retaining the services of the attorneys to facilitate a Debt Negotiation, their clients receive proper legal protection against the often predatory practices of debt collectors.
Back