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DEBT NEGOTIATIONS – TIPS TO STRIKE A BENEFICIAL DEAL

If you are in a situation where paying off your debt seems impossible and even debt consolidation wonu2019t help, you can consider debt negotiation or debt settlement. This is only recommended for people who are in serious financial difficulties.<br>

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DEBT NEGOTIATIONS – TIPS TO STRIKE A BENEFICIAL DEAL

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  1. DEBT NEGOTIATIONS – Tips to Strike a Beneficial Deal

  2. About Us • We at Credit720work for you in a similar way just as your Tax Consultant or Accountant. You hire our expert advice in debt negotiations as we help protecting your assets and safeguarding your rights as our esteemed client. • At Credit720, our goal is to protect your best self-interest and not the creditors. Debt Consolidation, Consumer Proposal - Calgary & Edmonton Region.

  3. DEBT NEGOTIATIONS – Tips to Strike a Beneficial Deal • If you are in a situation where paying off your debt seems impossible and even debt consolidation won’t help, you can consider debt negotiation or debt settlement. This is only recommended for people who are in serious financial difficulties. • Using this process, you will be able to save yourself from bankruptcy. In this article, we shall discuss things to keep in mind while negotiating your debt.

  4. What is Debt Negotiation and How it Works? • In simple words, debt negotiation in Edmonton is a process that takes place between a borrower and a creditor to arrive at a mutually agreed settlement on a debt that the borrower had taken but is unable to repay in full. This is a strategy that is used by borrowers to avoid bankruptcy when they are unable to pay off their debts. • Generally, private debt settlement companies are the ones who help settle the agreement between the borrower and the creditor by charging a fee of about 15-25% of the settlement amount.

  5. What is Debt Negotiation and How it Works? • When you enter into an agreement with such a company, you will be required to stop making payments to your creditors. You will start making payments to the debt settlement company and they will negotiate with your creditor to lower the amount of debt. • Once an agreement is reached, the company will pay your creditor and this process can take up to 3 years. Usually, unsecured debts are eligible for debt settlement which include credit card debts, personal loans, medical expenses, etc..

  6. Tips Regarding Debt Negotiations • You should always start your negotiation by informing your creditor about your financial situation whether you negotiate yourself or through a debt settlement company. • Whenever you agree on debt settlement terms with your creditor, always have them written so that you do not have to face issues regarding those terms in the future. • Try to start your negotiation by offering to pay a lump sum amount, say 25%, and increase it gradually. Always try to settle it for 50% or less.  

  7. Tips Regarding Debt Negotiations • Stay honest, keep calm, and explain your situation while you negotiate. • However, if you are stuck in a bad situation, it is recommended to take help from a debt settlement or debt management company. They are professionals experienced in dealing with creditors. Most creditors do not want to negotiate on your debt and convincing them alone will be a huge task.

  8. Conclusion • In conclusion, debt negotiation can save you from a situation of bankruptcy. There are some risks like added costs and a big hit to your credit record, but these are not as bad as bankruptcy. So, if you are from Alberta, Calgary, Edmonton, or Lloydminster, do not lose hope if you can’t pay off your debt, Credit720 is always at your disposal to offer effective financial debt help in Edmonton.

  9. Contact Us Red Deer #924, 4747 67th St,Red Deer AB, T4N 6H3Telephone: (403) 337-4000Fax: (780) 666-9721Email: info@credit720.ca Edmonton South 9856A 33 Ave NW, Edmonton AB T6N 1C6 Telephone: (780) 666-2600 Fax: (780) 666-9721 Email: info@credit720.ca Edmonton North 203, 12930 50 St, Edmonton, AB T5A 4L2 Phone: 780.666.2600 Email: info@credit720.ca Lloydminster(Alberta & Saskatchewan) Unit 102, 4802 -50th Avenue, Lloydminster, AB T9V 0W5 Phone: 403.337.4000 & 780.666.2600 Email: info@credit720.ca http://www.credit720.ca

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