Do know that these days even creditors are facing the heat because of the slowdown in the market? They are not able to operate.
They need the money urgently and some of them received the stimulus package from the government.
This money is helping them to reduce the loss that is instead of losing all the money now they are ready to give the settlement to their customers.
The minimum and only condition is that you should have at least ten thousand dollars as unsecured debt.
If you are thinking that you are satisfying the mentioned condition still not getting the settlement then I will like to get this in your notice that its creditor who will decide on the settlement.
They are the one to initiate the process.
You can make them consider for the settlement by not re paying their money.
Gradually the amount will increase and this will put pressure on your creditor.
Once you keep this habit then you will come in their notice and they will pick you for the settlement.
Debt negotiation tips are mentioned below: 1.
You will surely receive call from your creditor and slowly these calls will become harassing.
If they do so then inform them that you will take legal action against them if they do not stop this.
2.
Whenever you get the call from your creditor's office then inform them that you may file for the bankruptcy.
This will get you on the priority list of the creditor for settlement.
3.
Ask for the consolidated debt from your creditor.
This will merge all your unsecured debt into single debt.
Now amount is increased and pressure on the creditor as well.
4.
Keep realistic approach in the negotiation process and do not jump to their offers straight forward.
The best of debt negotiation tips is that you should hire the debt relief firm for execution of the settlement process.
Let professional do their job when we are not good at it.
Any legitimate debt relief firm will get you debt reduction of at least 50%.