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Become a Better Negotiator and Avoid Arguments
Ever noticed the outcome of an argument between two people or groups with contradicting views? Was there really a winner? It is important to come to some kind of understanding without burning bridges with the other party. If you're on the winning side of ...
Courting Premium Sales
Have you ever dreamed of selling your book to a large corporation? A sale that would register several thousand copies of non-returnable product on the book sale meter? What's that? You've never thought of it you say? Well, never fear! It's not too late to ...
Settle your debts the easy way
The process of contacting creditors directly or through a third party and negotiating for a lump sum payoff of your debts is known as debt settlement. Benefits of debt settlement * You can reduce your principal debt amount by around 40% to 60%. * ...
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You're not the only one these days. Even with the new bankruptcy laws, credit card debt continues to climb. Unfortunately for most of us, our paychecks don't climb as quickly.
If you're on the verge of bankruptcy, you may have another alternative.
Debt negotiation is a process where you negotiate with your creditors to pay off your debts at a reduced amount - for example, if you owe $12,000, you can negotiation a payoff of $5,000. The benefit for the creditor is that they get more money than they may have through bankruptcy, and they get the money sooner. The benefit for you is obvious - you get out of debt faster, and save lots of money in interest.
Where do you get the money to pay off the debt?
Take the money you would have normally used to pay your credit card bills, put it aside, and when you accumulate enough to pay off the debt, send in the reduced amount you agreed to.
If this sounds confusing, that's ok. It's really not.
There are many professional companies that will do all the work for you, and charge you a percentage of the savings.
I can speak from experience (I built up a lot of debt trying to start a sporting goods business, which didn't quite work out) that even with the fees, this is a good deal - plus you save a lot money by not having to pay the high interest rates on your credit card bills.
Sure, it is a more aggressive approach to getting out of debt than making minimum payments, using credit counseling, getting a debt consolidation loan, or borrowing from a friend or relative. But in the end, you'll get out of
debt faster...
And avoid bankruptcy!
If you've never heard of debt negotiation (also called debt settlement), that's ok too, not many people have. I didn't until I began to seriously consider bankruptcy.
One reason many people are hesitant to consider debt negotiation is that it goes on your credit report. Sorry to tell you, but having lots of debt (even if you pay on time), making payments late, even credit counseling - all go on your credit report and can negatively effect your credit. And (of course) bankruptcy is a big negative!
In my case, getting out of debt, removing all the financial stress, and being able to live a normal life were well worth it. With so much debt, having good credit was meaningless anyway.
Plus, I was able to get all but one of the negative items off my credit report (that's a topic for another discussion), and my credit is now back to normal. In fact, I now get more credit card offers than I can handle - and fortunately, I can now throw them all in the trash! When money is tight, and debt is high, there aren't many simple answers.
But if you are already considering bankruptcy, then debt negotiation might be the right alternative to help you get out of debt faster!
About the author:
Kris Bickell is the owner of Debt-Tips.com, a helpful site for consumers struggling with credit card debt. For tips on getting out of debt, repairing your credit, saving money, and making extra money online, sign up for the free "5 Simple Steps To Getting Out Of Debt Faster, Fixing Your Credit Problems, & Saving Lots Of Money!" email course at: http://www.Debt-Tips.com/. © 2005 Debt-Tips.com
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Sudan and South Sudan to resume negotiationsChristian Science MonitorAfter weeks of fighting, in which South Sudan took out one of Sudan's last remaining oil fields, the two countries are returning to the negotiation table, under African Union mediation. By Scott Baldauf, Staff writer / May 25, 2012 After a series of ...and more » |
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