Debt Settlement or Debt Negotiation

You won't hear about it in the mainstream financial press, but there is an honest and effective alternative to all of the above debt reduction options. It's called "Debt Settlement" or "Debt Negotiation," and it's really nothing more than good old-fashioned haggling.

While Debt Settlement is not perfectly suited to everyone with a debt problem, those seeking a viable alternative to bankruptcy to bankruptcy will discover that Debt Settlement is a great solution to problem debt.

Unlike Debt Consolidation or Credit Counseling, where you pay back the full balance on your debts, with Debt Settlement, you only pay back a portion of the balance, usually 50% or less.

What happens to the rest?

The creditor forgives the balance in a transaction called a "settlement." In other words, through the process of negotiation, our professional staff at Liberty Financial are able to reduce the total amount of money that you owe (called the "principal") and not just the interest rates as with other programs. This makes a huge difference in how quickly you can become debt-free. Instead of 5-9 years as with Credit Counseling, with Liberty Financial Debt Settlement Program, you can be debt-free in 3 years or less, depending on the pace at which you fund the program. Also, you'll save thousands of  dollars through Debt Settlement versus other programs.

Here are some of the major advantages of Debt Settlement:

Provides an ethical and honorable alternative to bankruptcy.
Allows the client to maintain privacy over their financial affairs (unlike bankruptcy, where everything becomes a matter of public record).
Lets the client take charge of the program and control their own destiny (unlike bankruptcy, where the courts decide everything).
Program duration of only 2-3 years versus 5-9 years or more for Debt Consolidation or Credit Counseling.
Requires the lowest total payout versus Debt Consolidation or Credit Counseling.
Provides the most flexibility of any program in terms of monthly budgeting.

The tremendous savings obtained by Debt Settlement versus other methods is
certainly an attractive benefit, but the built-in flexibility of this approach is also
critical for many consumers who struggle with monthly payments.

If you're like most folks, your expenses differ from one month to the next. With a Debt Consolidation loan, a Credit Counseling program, or a Chapter 13 Bankruptcy, if you miss a payment the whole program can go haywire.

With the Debt Settlement approach, if it's necessary for you to skip a month, the only thing that will happen is that the program may take a little longer to complete. You can also "make it up" down the road by funding over and above your basic level. You can even add lump sums from time to time to speed up the process. No other program  provides this kind of real-world flexibility. That's why Debt Settlement is quickly growing in popularity among consumers seeking to eliminate credit card debt and  other types of unsecured debt. That's the main  reason for the increase in debt settlement companies. The desire to help others navigate through the treacherous waters of debt settlement and debt settlement scams.

Not all third-party debt settlement providers are the same. You can check with the Better Business Bureau if you are concerned about any debt settlement companies business's reputation, including ours. Some debt settlers have given the industry a bad reputation. If you check with the BBB, you'll find that we are one of the top in the business--with a clean record.

Some people have attempted to settle their debts themselves. They may even find success, and talk their creditors into accepting a smaller amount than the sum total of their debts. However, simply attaining a settlement isn't enough. You want to obtain the best settlement possible that reduces your debts as much as the creditors will allow. This isn't something you're likely to be able to do on your own.

DOING IT YOURSELF

Novice debtors looking for debt settlement might take the first offer--after all, a novice may not know a good deal from an average or a bad deal. When pressed, a creditor's customer service representatives are instructed to shave a couple thousand dollars off the top. This usually satisfies a debtor. Even trying to haggle after this point can be fruitless.

Quite frankly, many creditors don't take debtors seriously. The reason is because the creditor is in the driver's seat. The creditor knows that a debtor has fallen on difficult times and will take any offer that reduces their debt, even if the offer is pretty much insignificant. With the new 2005 bankruptcy laws taking effect, a debtor will have less leverage by threatening to declare bankruptcy.

So what's the solution?

Working with a professional debt settlement agency like Liberty Financial Management can really make a creditor take notice and offer a larger settlement.

During your FREE, no-obligation consultation, we'll analyze your situation and  help you determine the best approach for your circumstances.

Remember the real reason we are here, despite what others may say or think is that we are here to help you settle your debt and rescue you from the pressures and hassles of debt!

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