123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Family >> View Article

3 Tips To Settle Debts Safely

Profile Picture
By Author: J.J. Yong
Total Articles: 963
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Settling debt means getting a creditor or debt collection agency to accept the debt repayment less than the full amount which supposed to be paid. As a debtor, in order to reduce your financial burden, debt settlement is one of the best financial solutions you can think of.

Here are some useful tips you can apply when you are undergoing the negotiation process:

Before commencing your negotiation, you are advised to know your rights as a consumer. Many creditors or debt collection agents are counting on you not knowing your rights. Some of them try to intimidate you. Hence, it is important for you to find out your rights as outlined by the Fair Debt Collection Practices Act. You must learn to protect yourself.
When you are in the midst of determining your settlement amount, you are reminded about the main goal of debt settlement. It is to reduce your outstanding balances to a manageable amount. It is wise to request your creditors to remove all the late fees, finance charges and over the limit fees. If the creditors reject your request and the counter offer is not in favor of you, you are advised to decline ...
... the counter offer. Do not force yourself to accept the settlement amount which you can't fulfill.
Occasionally debt collection agents are polite and well versed in settlement arrangements. Some may refuse to accept settlement agreement and they tend to make harassing calls. In this situation, you are recommended to terminate the call as politely as possible. It is no point for you to use profane language as it will just make things worse. When verbal negotiation fails, you are suggested to write settlement letters.

In order to settle your debt safely, you need to be extra careful and patient in negotiating with your creditors. Besides, you are required to have "thick skin" to bargain for the lowest deal for your own good. Don't feel ashamed to settle your outstanding balance. The most important is getting out from debt.
For more information about debt settlement letter and debt settlement companies, visit DebtSettlementEssentials.com.

Total Views: 362Word Count: 350See All articles From Author

Add Comment

Family Articles

1. Caring For Your Latex Mattress In Different Climates
Author: Andrew Philips

2. The Crucial Role Of Housemaids In Childcare In Singapore
Author: Eazymaid Pte Ltd

3. The Impact Of Paternity Leave On Child Development: Why Father’s Time Matters
Author: Im Perfect by Urveez

4. Navigating Egg Donation - The Everie Difference
Author: Everie Egg Bank

5. Có Nên Mua Máy Hút ẩm Kosmen Km-12n Giá Hơn 3 Triệu
Author: BPS Việt Nam

6. Event Management Company In Siliguri: Akk Wedding Planner
Author: amit

7. How Much Is A Dishwasher Installation?
Author: Tom D'Agostino

8. Why Do I Need To Review My Life Insurance Annually?
Author: Joffry Daniel

9. Effects Of Mattress Material On Body Pressure Profiles In Different Sleeping Postures
Author: Andrew Philips

10. Powerful Tips To Get Love Problem Solution
Author: Pandit Kapil Sharma

11. Why U-shaped Modular Kitchens Are Perfect For Modern Homes?
Author: Nobilia Kitchen

12. Renovate Your Bathroom With More Luxurious
Author: Monika

13. How To Make First Rakhi Special?
Author: Chandan Kumar

14. Parenting In The Digital Age
Author: Im Perfect by Urveez

15. Carpet Cleaning For Commercial Spaces: What You Need To Know
Author: kinyyy

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: