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Debt Free |
The best way to become debt free with debt negotiation is to face your debt problems, unfortunately you have to start somewhere. Many Americans with debt problems believe that the less they know, the less they feel. They think, “I’m having trouble paying my bills. I can’t stand the thought of knowing just how much I can’t pay.” But you must come to terms with your total debt burden. You cannot take steps to rebuild your credit without knowing exactly where your money goes— or is supposed to go. Figuring out what you owe may result in an unfortunate surprise. Capital Negotiators affiliates and debt counselors find that people tend to overestimate—not underestimate—their debt burden. This may bring little comfort to those of you who find out that you owe more than you thought, but there is always a benefit: Knowing what you really owe will help you make wise choices about how you spend your money.
Start by Looking at the most recent bills you’ve received. If you’ve thrown out your bills without opening them, you can probably find out the balance by calling the customer service department of the creditor. Many creditors’ automated telephone systems provide balance and payment information automatically, without having to speak to a person. Some creditors may also provide account information on their websites. If you must speak with a person and you’ve long been avoiding your creditors and fear they’ll hassle you when you call, ask for balance information only. If the customer service representative turns into a bill collector, explain that you are exploring your options and need to know how much you owe before you proceed. Let the representative know that you will contact the company as soon as possible, but for now you need only to know how much you owe. If the representative still hassles you, hang up and use your best guess as to how much you owe that creditor. Total up both your past due installment bills, such as credit cards and loans, plus any regular monthly obligations that are overdue, such as your electricity, cable and internet bills.
If you find your monthly bills are substantially higher than your income level, then debt negotiation is one of many effective debt solutions that you should take into immediate consideration. Did you know? Millions of Americans have chosen debt negotiation rather than filing for bankruptcy or using debt management plans. The main reason for this is that debt negotiation could save you much more money and time than average debt management programs. It allows you to avoid the long term effects of a bankruptcy, which can negatively affect your credit for up to ten years. The concept of debt negotiation is to give both the creditor and the debtor a chance to get themselves out of unnecessary, tedious court proceedings and avoiding wasting any money and time. The debt negotiation process is successful because even credit card companies and lenders know that in this day and age, the rate of bankruptcy filings are constantly on the rise. Meaning there is far less chances of recovering the full debt amount if the consumer files bankruptcy than if a debt settlement is professionally negotiated.
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