What Do You Need to Include in a Debt Settlement Letter
December 3, 2009 by Admin · Leave a Comment
Debt settlement letter is an official letter which a debtor writes to his or her creditor with the main purpose of negotiating the debt for a much lower amount. It is a formal letter which you should prepare the content in a systematic manner.
Here are some important points you MUST include in this letter:
Your name, address and contact number
Your account number, the total amount of your debt, the interest rate involved and the terms of payment
How long has your account been due
A brief outline of your current financial situation and the hardship you are facing
Your request to reduce your total outstanding balance
How much settlement offer you would like to propose
How will the payment be made, for instance, you need to state clearly whether you will pay in one lump sum or by installment
How much is the remaining debt balance to be forgiven
Your statement pertaining to how the debt will be reported to the three major credit bureaus. Read more…
Impact Debt Settlement: Committed to Offer Debt Advice Solutions to Individuals and Families
November 24, 2009 by Admin · Leave a Comment
Debt reduction may be a viable choice for many individuals who are battling credit card debt. Also referred to as debt reduction or debt negotiation, debt settlement is the method of negotiating a reduction of your debt into a feasible amount, set by both the creditor and therefore the debtor. Through debt settlement, you’ll scale back the amount of your debt by up to fifty p.c, and lower your debt consolidationmonthly payments and interest rate. Most individuals who settle their debt through debt negotiation finish up paying it off inside one to two years. After which, they’re utterly debt-free! That’s the most effective part of debt reduction. You may be able to pay off your debt faster than you ever thought possible. Some folks select to barter their debt settlement on their own, however in most cases, a reputable bad credit settlement company will handle the negotiations for you. D Read more…