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Sonntag, 23. Januar 2011

What you need is the funding to be able to put an
Von chenyixi2010, 02:21

Part of debt settlement is negotiating to work out a plan. Some people go into the negotiation process and they think that they can set up some sort of payment plan. Though this will usually get you a discount on your total balance, it won't get you nearly the discount you need for settlement to make sense. These people typically do not have the funds up front to settle their debts the right way, so they give up almost all of their negotiating power to the creditors. As you might imagine, this is a terrible idea and it will leave you in a bad situation going forward.

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What you need is the funding to be able to put an offer out there on the table right now. You need to have cash on hand to offer the credit card company 30% or 35% of the debt and be able to stand by that. You can put your first down, show them the check right then and there, and fully use your advantages. When the money is out there for the taking right away, creditors will be much more likely to accept a lower offer. Some people have even said that they were able to get a 75% discount just by offering it all at that very moment. If you think about that with a $10,000 debt, the numbers are outrageous.

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