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Video Transcript

Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
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Debt Settlement Process

The bottom line of a debt settlement process is to negotiate with your creditor so you can be given pardon for your inability to pay off your debts. Specifically, they will waive off late payment charges and ultimately allow you to pay for only a portion of the original balance.

While there is no doubt that some people can manage this on their own, there are negotiation skills and industry expertise needed to accomplish the intended agreement. Creditors may be intimidating and you may not be the best person to handle it. With this idea in mind, debt relief companies are available to help you reach an agreement with your creditors. They will work on your behalf and will assure those you owe that you will be paying off diligently under the new payment terms.

It should be understood that debt settlement only works for specific situations and debt types. For instance, this is not applicable to student loans or mortgages. This is usually best for credit card debts.

Identifying the Steps in a Debt Settlement Process

woman taking money out of walletOnce you have selected the debt relief company to help you settle your debts, the first step will involve discussing your unique financial situation. This is needed so you will know just how much you can afford to pay for. You will then decide how you will approach the debt settlement process.

One approach involves a lump sum payment. You will save up an amount that will pay off the debt once and for all. The other approach is a new term settlement that will provide you with a new payment period and lower monthly amount.

When you have laid out your plans, you will have to set aside an agreed amount to fund the settlement amount that will be offered to the creditor. This amount is based on your debt balance, income and basic necessity expenses.

Remember that at this point, the creditor is still unaware of your intentions for debt settlement. All they know is that you have stopped paying your monthly dues and they will probably start harassing you through phone calls and mails. You should maintain your silence and you continuously put aside money in the FDIC insured account that the debt relief expert have arranged for you.

As you are building up your funds, the debt relief company will get in touch with the creditor to negotiate on your behalf. They will show proof that you are unable to pay and will try to get them to agree to new payment terms.

This happens around 90-180 days after you have stopped paying. This is the ideal time to do so because the creditor should have “charged off” your debt – meaning, they have taken a tax break and have written you off as a “bad debt”.

The creditor will conduct their own investigation based on what had been presented to them. This includes checking on your payment behavior with your other creditors. Once they have found that there is no other way but to settle, you will be informed through the debt relief company representing you. They will send a written “settlement offer” that you will have to approve.

When that is in order, the funds from the account you have secretly been saving will be released depending on the amount that is written in the offer.

This debt settlement process will be repeated until such time that you have paid off all of your debts completely.get debt relief help

NationalDebtRelief.com is a debt relief company that can aid you in negotiating with your creditors. We encourage you to take that bold step in settling your financial obligations by calling us. The initial consultation is free. Let us help you gain financial freedom.

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Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
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"National Debt Relief has helped in bettering my credit and payin"

** Audited by: Dianne Ernsting ** Easy National Debt Relief Caller: Charlotte Transcribed: WE 2/28/2021 Charlotte: Before I begin, I have to let you know that our call is recorded. Can you tell me, how did you first hear about our National Debt Relief? HILLARY: Actually, I think I googled it. Charlotte: So, what made you decide to work with National Debt Relief as opposed to other providers? HILLARY: It just sounded promising and that I could get out of debt. Charlotte: What did you think about the enrollment process? HILLARY: It was easy, it was no hassle. Charlotte: Now, tell me about the program that you were on. HILLARY: I think it's great. The only problem I kind of have is, sometimes, payment-wise, it's a little-- I mean, I get it, because you're trying to pay off your debt. It's just a little pricey if you can't do it. Charlotte: In what ways would you say that this program has begun to work for you? HILLARY: Bettering my credit, paying off my debt. Charlotte: About how far are you in the program at this point? HILLARY: Geez, I've been there, probably, a year and a half, I think. But I don't know how far I am out of debt, honestly. Charlotte: Now, is there anything about this program that you would like to see handled differently? HILLARY: The only thing, and it could just be me, I don't know how they work, and I don't know if they call like, "Okay, this is who you have debt with. This is who you debt--" Or do they reach out? I don't know who reaches out and says, "Hey, they have this bill." Charlotte: What have you experienced? Tell me what's happening. HILLARY: No. I feel like it isn't as fast, process-wise. The last two months have been kind of fast with a few credit cards being settled, but there's a few other ones, I'm like, "Okay, why haven't they settled on this one yet?" Or, you know, just things like that. Charlotte: Oh, like it's dragging out a little bit? HILLARY: Yeah, yeah. Mm-hmm. Charlotte: Now, what did you think about your negotiators? HILLARY: I think it's good. I just had a big change in my life with my daughter being sick with her kidneys. So, they said-- I was a little annoyed. And I said, "Well, what does it matter if something happens? It's not going to change my payment." They're like, "No, but the creditors, we can help you that way." And I didn't understand that at first. I wish somebody would have told me that at the beginning. The reason we ask these questions, they're for the creditors, more or less. So, nobody told me that. Yeah, nobody told me that. Charlotte: And what else have you experienced? HILLARY: Everybody's been really kind, honestly. There was a girl I talked to last week, I did a survey on her, and I absolutely loved her. I cannot remember her name. She sent me an email. But I don't think I've ever run into anybody that couldn't answer a question, and who hasn't been really kind and compassionate. Charlotte: If you have to rate your experience, so far, on a scale of one to five, and five would be that you would recommend to friends and one is you're pretty dissatisfied, how would you rate them? HILLARY: I'd rate you guys 5. Charlotte: Would it be okay if I posted your comments as a review on our public website? HILLARY: Yeah, go ahead. Is there a way I can recognize that girl? Charlotte: Oh, no, no, no. They'll find it out for sure. HILLARY: I loved her. I absolutely loved her. She was amazing. Charlotte: So, how comfortable have you felt working with National Debt Relief through this process? HILLARY: Oh, really comfortable. Charlotte: So, say you have some questions or concerns, how does National Debt Relief work with you to answer any questions or concerns that you're having? HILLARY: I guess they reach out more than not. I hear from them more than, probably, anybody. But I feel like emails-- they'll email me. They're pretty patient too if you need something done and you can't do it at that point. They're like, "Okay, well, I'll call you back." I just feel like they're very patient. I don't know. I don't know the answer to that. Charlotte: How would you say working with National Debt Relief, Hillary, has impacted your life? HILLARY: I feel like I don't have as much debt, and I feel inside, internally, I feel not as stressed. It's better than them garnishing your wages. Charlotte: And of course, were recorded. I'm going to send you a link to your email at andreattahillary@yahoo.com. HILLARY: Uh-huh. [yes] Charlotte: Of course, we are recorded.

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