Debt settlement: the best of debt settlement
In a perfect world, almost everyone would prefer not to have to use debt settlement tactics. Most of us have a sense of pride and honor and have no problem paying back what we borrow. Face it, debt settlement will be a much better option than bankruptcy. Bankruptcies are so bad for your credit. Of course, debt settlement will have an impact on your credit as well, but not as bad as a BK. Remember, a BK will stay on your credit report for 10 years (not the traditional 7 years like most items).
There are times when we are faced with real difficulties and we may have no choice but to use these kinds of tactics. The great thing about debt settlement is that we DO NOT need a debt settlement company to run a successful negotiation.
You see, there are step-by-step plans that show consumers exactly what to do to settle debt ourselves and avoid paying THOUSANDS OF DOLLARS to a company that specializes in eliminating debt.
Most companies that do this kind of thing offer a guarantee that they will eliminate at least half of your debt. Select a payment plan and if you owe $ 30,000.00, your total payments will be approximately $ 15,000.00.
So they guarantee that they will settle for $ 15,000.00, most likely they will settle for $ 6,000 to $ 9,000. The spread between what they settle and the $ 15,000 that guaranteed you they would settle is your profit. They would earn between $ 6,000 and $ 9,000 (varies from case to case).
If you can follow a step-by-step plan, you can maintain debt settlement companies WILL BE BENEFITS to you. Not a bad deal!