Settlement necessitates two fundamental requirements. First, you must have a minimum unsecured debt of $10,000, and second, you must consolidate your debt to ensure that the first condition is met and to minimize the cost and time required for settlement.
If both of these conditions are met, you must hire a professional debt settlement firm. A professional organization will have comprehensive knowledge of the financial system and the system's flaws. This means that the company's trained negotiator will know precisely how to negotiate with your creditor to obtain the best possible terms for you.
You must default once the negotiator instructs you to do so. It may be difficult, but you must make this choice in order to demonstrate that you are in financial difficulty. After you cease making payments, the creditor will wait 90 to 120 days before selling the debt to a collection agency for 20 to 30 cents per dollar collected. The negotiator will contact the creditor and make a new offer of 30 to 50 cents per dollar. In addition, the creditor will be threatened with bankruptcy if it rejects the agreement. The creditor will therefore accept the deal on the premise that it will generate a 100% return on investment for the collection agency. Therefore, the creditor will eradicate at least fifty percent of your debt.
This is how engaging a debt negotiator can assist you in settling your debts.""
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