Title: DEBT NEGOTIATIONS – Tips to Strike a Beneficial Deal
1DEBT NEGOTIATIONS Tips to Strike a Beneficial
Deal
2- 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- 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.
9Contact 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