Debt Negotiation
Debt negotiation, also known as debt settlement or debt arbitration, is the process by which a company negotiates with a credit card company to attempt to get them to agree settle a debt that a consumer owes for less than he or she owes. When a settlement is successful, a debt negotiation client may be able to save thousands off their balances as a result of settling their debts, helping them to become debt free faster on those accounts that were negotiated down.
In the debt negotiation process, it is important to have legitimate medical or financial hardship. If your enrollment in a debt negotiation program is the direct result of circumstances that you could not control (divorce, medical issues or job loss) and you can document it, then you're far more likely to get a favorable settlement versus a person who the creditor feels could have paid the debt back in full. If you're buried and unable to afford the minimums or a credit counseling program, but it was more the result of poor budgeting than financial hardship, it's still possible that you'll be able to obtain a settlement.
During debt negotiation, recent account activity plays into your hardship in a sense because it's all about whether the creditor feels you've been fraudulent in your business with them. For example, if you just bought a plasma TV on your credit card a month ago, the creditor would have doubts that you ever had any intention of paying them back, thus any negotiations over your debt would be much more likely to fail. In the end that means you'll be stuck in court paying back a debt that's even larger than original balance because of the late fees and interest charges that were tacked on during the course of your debt settlement program.
Becoming a part of our debt negotiation program will:
- Give you one low monthly program payment in your own personal "Special Purpose Account." We appoint Noteworld Servicing Center, an FDIC-insured bank, to retain your payments until enough monies have been accumulated to negotiate a debt settlement with your creditors.
- We engage in tough debt arbitration with your creditors to negotiate and settle your unsecured debt.
- With debt consolidation programs you are still paying 100% of your unsecured debt. Our debt negotiation program allows you to satisfy your existing balances by paying only a fraction of the total, with the remaining amount forgiven by your creditor.
- Get out of debt sooner than with debt counseling or debt consolidation programs.
- Relieve the financial and emotional burden by getting help before it’s too late!
 The National Debt Relief Group can help you find the right solution with a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.
Debt Negotiation
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Debts We Can Settle
Unsecured debts:
- Credit cards
- Unsecured loans, personal loans, or lines of credit
- Medical bills
- Collections or repossessions
- Business debts
Debts We Can't Settle
Secured debts:
- Lawsuits
- IRS debt or back taxes
- Utility bills
- Auto loans, government loans, or student loans
- Mortgages or home loans
- Other secured debts
Your Debt Relief Alternatives
If you are considering a type of debt relief program, know that there are alternatives to debt settlement. National Relief also offers debt management, which may work better for some consumers.
Your Consumer Rights
All consumers should be aware that they have specific rights under The Fair Debt Collection Practices Act. Debt collectors must follow the rules. Violations of this act by collectors can result in the consumer receiving damage awards.
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