As everybody knows, being in debt is something we all dread and avoid, but few can say they dodge it successfully. It is not easy to avoid debt without having a financial plan or a self-restraining personality that will eventually help regain control of your debts and free you from them. Debt Negotiation Companies exist to assist people on these matters and help them become debt free.
A number of debt negotiation companies also include a credit repair service as part of their debt negotiation program. This repair service removes any negative items caused by the program. Although it is part of the program, there are additional fees associated with this service.
One of the main problems of indebted people is that they have lost control of their monthly bills and credit card debts. That is when Debt Negotiation Companies can help you get back the control over your debts and loans that may have fallen behind because of the high interest rates or the unusual fees which banks charge once you stop paying them regularly.
Karen Haggerty is one of our current clients from the Debt Negotiation Companies program. She entered the program a few months ago and is being assessed by a professional counselor from the Debt Negotiation Companies staff. One of them is Debbie White, a regular author of important articles of business guidance and debt avoidance.
Debbie White will be viewing some questions that Karen had at the beginning, so that anybody who has doubts about the program can solve them by seeing for themselves that debt freedom is possible and is not some mythical dream that cannot be achieved.
Karen Haggerty:
What do Debt Negotiation Companies do?
Debbie White:
Debt Negotiation Companies have certain steps to follow in order to help anybody who enters the program become debt free in shortest amount of time possible. These are the steps:
- The Debt Negotiation Companies will first talk directly to your creditors to help lower your monthly installments of your current debt in order to lighten the load.
- After the debt negotiation companies have made a deal with your creditors, they will let you know the new terms the creditors have agreed upon and organize your payment plan according to the new terms.
- You, as the debtor, will make a single payment to the debt negotiation companies and they, in turn, will pay the creditors.
Those are the main 3 steps that the debt negotiation companies will make, but sometimes, depending on the cases and each situation, there are more steps to follow.
Karen Haggerty:
Will this affect my credit history?
Debbie White:
Although a debt negotiation program will lower your credit score for as long as you are in the program, you will also find that most debt negotiation companies require the creditor to make sure that the final credit report reflects the account is now paid in full. Therefore, once your account is settled you will no longer have a negative report.
Karen Haggerty:
After the debt negotiation companies make a new deal with the creditors they stop helping me?
Debbie White:
No, the debt negotiation companies become responsible for any communication between you and your creditors and any information that the creditors request or need from you will always go through the debt negotiation companies first; so that they can keep track of the whole process for as long as it takes.
Experience has taught us that creditors preferred to work with debt negotiation companies than debtors because we understand the legal steps better and do not need advice from them.
After hiring the services of a debt negotiation company, people will notice the difference because we will not let any creditors’ harassment process to continue, and the client will no longer receive “legal threats”, as they call it. We also do not get bullied around like the clients do, so the business relation with the creditors works better and the debt gets paid off faster.
Karen Haggerty:
Debt negotiation companies are the only way out of debt?
Debbie White:
No, debt negotiation companies are not the only solution on the market, but it sure is the best. Although people may think that there are other solutions out there, they do not know that we are known by different names, such as debt arbitration and/or debt settlement.
Debt negotiation companies are a resource that should only be used as a last resort; and only when people are sure that there are no other ways out
Check these links to learn more:
http://www.curadebt.com/about.asp
[http://www.curadebt.com/settlement/business-debt-negotiation/business-debt-settlement-negotiation.asp
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Debbie White is a contributing writer to http://www.curadebt.com and is currently writing some special articles to guide businesses on how to manage debt and avoid bankruptcy. For Business Debt Information and Debt Help Consultation, call toll-free 1-877-850-3328.