DEBT NEGOTIATIONS – Tips to Strike a Beneficial Deal - PowerPoint PPT Presentation

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DEBT NEGOTIATIONS – Tips to Strike a Beneficial Deal

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If you are in a situation where paying off your debt seems impossible and even debt consolidation won’t help, you can consider debt negotiation or debt settlement. This is only recommended for people who are in serious financial difficulties. – PowerPoint PPT presentation

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Title: DEBT NEGOTIATIONS – Tips to Strike a Beneficial Deal


1
DEBT NEGOTIATIONS Tips to Strike a Beneficial
Deal
2
  • About Us
  • We at Credit720 work for you in a similar way
    just as your Tax Consultant or Accountant. You
    hire our expert advice in debt negotiations as we
    help protecting your assets and safeguarding your
    rights as our esteemed client.
  • At Credit720, our goal is to protect your best
    self-interest and not the creditors. Debt
    Consolidation, Consumer Proposal - Calgary
    Edmonton Region.

3
  • DEBT NEGOTIATIONS Tips to Strike a Beneficial
    Deal
  • If you are in a situation where paying off your
    debt seems impossible and even debt consolidation
    wont help, you can consider debt negotiation or
    debt settlement. This is only recommended for
    people who are in serious financial difficulties.
  • Using this process, you will be able to save
    yourself from bankruptcy. In this article, we
    shall discuss things to keep in mind while
    negotiating your debt.

4
  • What is Debt Negotiation and How it Works?
  • In simple words, debt negotiation in Edmonton is
    a process that takes place between a borrower and
    a creditor to arrive at a mutually agreed
    settlement on a debt that the borrower had taken
    but is unable to repay in full. This is a
    strategy that is used by borrowers to avoid
    bankruptcy when they are unable to pay off their
    debts.
  • Generally, private debt settlement companies are
    the ones who help settle the agreement between
    the borrower and the creditor by charging a fee
    of about 15-25 of the settlement amount.

5
  • What is Debt Negotiation and How it Works?
  • When you enter into an agreement with such a
    company, you will be required to stop making
    payments to your creditors. You will start making
    payments to the debt settlement company and they
    will negotiate with your creditor to lower the
    amount of debt.
  • Once an agreement is reached, the company will
    pay your creditor and this process can take up to
    3 years. Usually, unsecured debts are eligible
    for debt settlement which include credit card
    debts, personal loans, medical expenses, etc..

6
  • Tips Regarding Debt Negotiations
  • You should always start your negotiation by
    informing your creditor about your financial
    situation whether you negotiate yourself or
    through a debt settlement company.
  • Whenever you agree on debt settlement terms with
    your creditor, always have them written so that
    you do not have to face issues regarding those
    terms in the future.
  • Try to start your negotiation by offering to pay
    a lump sum amount, say 25, and increase it
    gradually. Always try to settle it for 50 or
    less.  

7
  • Tips Regarding Debt Negotiations
  • Stay honest, keep calm, and explain your
    situation while you negotiate.
  • However, if you are stuck in a bad situation, it
    is recommended to take help from a debt
    settlement or debt management company. They are
    professionals experienced in dealing with
    creditors. Most creditors do not want to
    negotiate on your debt and convincing them alone
    will be a huge task.

8
  • Conclusion
  • In conclusion, debt negotiation can save you from
    a situation of bankruptcy. There are some risks
    like added costs and a big hit to your credit
    record, but these are not as bad as bankruptcy.
    So, if you are from Alberta, Calgary, Edmonton,
    or Lloydminster, do not lose hope if you cant
    pay off your debt, Credit720 is always at your
    disposal to offer effective financial debt help
    in Edmonton.

9
Contact Us
Red Deer 924, 4747 67th St,Red Deer AB, T4N
6H3Telephone (403) 337-4000Fax (780)
666-9721Email info_at_credit720.ca Edmonton
South 9856A 33 Ave NW, Edmonton AB T6N
1C6 Telephone (780) 666-2600 Fax (780)
666-9721 Email info_at_credit720.ca
Edmonton North 203, 12930 50 St, Edmonton, AB T5A
4L2 Phone 780.666.2600 Email info_at_credit720.ca
Lloydminster(Alberta Saskatchewan) Unit 102,
4802 -50th Avenue, Lloydminster, AB T9V
0W5 Phone 403.337.4000 780.666.2600 Email
info_at_credit720.ca
http//www.credit720.ca
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