Debt Reduction Help - How to Realistically Eliminate Your Unsecured Debt in 1-2 Years
Many individuals get frustrated by the lack of cooperation and support offered by the lender when seeking debt settlement.
It is funny that people presume that lenders will actually encourage individuals to opt for debt settlement.
Debt settlement leads to a drastic reduction in the profits earned by the lender.
Lenders agree only because not doing so may lead to bankruptcy.
If the borrower declares bankruptcy, it will hurt the lenders even worse than a settlement.
They agree but are never enthusiastic about it.
It is too much to expect the lender to be enthusiastic about a loss of profit.
Neither would you.
One of the biggest mistakes that people do is that they walk in to the lender's office and ask whether the lenders offer settlement or not.
Instead, you should approach lenders and actually seek a settlement.
You should not give the lenders the opportunity to reply that they do not encourage settlement or waivers.
Once you pose this question, they will reply in negative and try to gauge your reaction.
Once you get down to begging and pleading for assistance, they will offer a pittance and expect you to be satisfied.
If you walk around asking whether they offer waivers, lenders will offer a five to ten percent discount and expect you to be happy with it.
On the other hand, if you walk into the office behaving as if -getting a settlement is given and -it is just a question of whether you qualify for 40 or 60% waiver, then the negotiating tactics of your lender will change.
If you are not qualified to perform these tactics, then the best option is to make use of the World Wide Web and get in touch with debt settlement companies.
There are many fraudulent companies on the web.
However, there are many genuine companies as well.
The onus is upon you to search for the best one.
If you cannot find the right company, then the best option is to approach your lenders yourself.
You can even point out that you attempted to find a settlement company but could not find the best one.
You can use this to indicate that you do not have money to even pay the fees charged by reputed settlement companies.
All this will definitely influence the decision of your unsecured lenders as far as extent and percentage of waiver is concerned.
It is funny that people presume that lenders will actually encourage individuals to opt for debt settlement.
Debt settlement leads to a drastic reduction in the profits earned by the lender.
Lenders agree only because not doing so may lead to bankruptcy.
If the borrower declares bankruptcy, it will hurt the lenders even worse than a settlement.
They agree but are never enthusiastic about it.
It is too much to expect the lender to be enthusiastic about a loss of profit.
Neither would you.
One of the biggest mistakes that people do is that they walk in to the lender's office and ask whether the lenders offer settlement or not.
Instead, you should approach lenders and actually seek a settlement.
You should not give the lenders the opportunity to reply that they do not encourage settlement or waivers.
Once you pose this question, they will reply in negative and try to gauge your reaction.
Once you get down to begging and pleading for assistance, they will offer a pittance and expect you to be satisfied.
If you walk around asking whether they offer waivers, lenders will offer a five to ten percent discount and expect you to be happy with it.
On the other hand, if you walk into the office behaving as if -getting a settlement is given and -it is just a question of whether you qualify for 40 or 60% waiver, then the negotiating tactics of your lender will change.
If you are not qualified to perform these tactics, then the best option is to make use of the World Wide Web and get in touch with debt settlement companies.
There are many fraudulent companies on the web.
However, there are many genuine companies as well.
The onus is upon you to search for the best one.
If you cannot find the right company, then the best option is to approach your lenders yourself.
You can even point out that you attempted to find a settlement company but could not find the best one.
You can use this to indicate that you do not have money to even pay the fees charged by reputed settlement companies.
All this will definitely influence the decision of your unsecured lenders as far as extent and percentage of waiver is concerned.
