Debt Negotiation is an aggressive approach to debt reduction and is the alternative to filing bankruptcy. A Debt Negotiation agency negotiates with the creditors to settle your debt for a lower amount than owed. Once the debt has been settled, the creditor will send a letter stating the debt has been satisfied. The creditors will also notify the credit bureaus that the account is “Paid”, “Settled”, or Settled for less than the full amount”.

Debt Negotiation is a way to get out of debt in the shortest amount of time and for the least amount of money, without filing for bankruptcy. Creditors will usually settle for less than owed. Although the bankruptcy laws have recently changed the creditors know that the option to file bankruptcy still exist. They would rather settle the account in order to get as much money as they can. With Debt Negotiation, Eliminate Your Debt averages 43% settlements, which would result is a 50-60% savings of the account balance

Debt Negotiation can be harmful to a debtor’s credit-rating while they are in the process of settling their debt. Creditors won’t agree to settle on an account that is in current status. The debtor’s credit report will reflect that they are behind in payments thus having a negative impact on your bureau report, until the debts are settled.

Unsecured Debt includes:

• Credit Card Debt
• Judgments and Liens
• Unsecured Lines of Credit
• Collection Agencies
• Hospital and Medical Bills
• Department Store Cards
• Creditor Law Suits
• Repossessed Vehicle Loans