Revisiting Debt Settlement Companies

            The last week another debt settlement company failed, leaving thousands of customers stranded.

            Debt settlement companies offer to settle debts for a fee. Customers pay into an escrow account and then the company waits until the creditor is willing to settle. In other words, they put time to work for them.

We say that you make time work for you instead, eliminating the cost of the debt settlement company.

Most people are trained to think time is on the lender’s side. After all, interest continues to be added on, and debt collectors try to create a sense of urgency as if there were will be no second chance if you do not act now. Yet a person with a Debt Relief plan can afford to wait as lenders come around to accept an affordable settlement. You don’t have to beat them. You just have to outlast them.

For example, a credit card lender recently offered a 65% discount to settle a $20,000 debt, just a few months after offering a 20% discount. Forget about the 29% interest rate. And why take the first offer when offers get better over time? The debt in this example will probably be settled for a 90% discount or maybe even be allowed to be settled for zero by running it past the four year Statute of Limitations.

You, too, can put time on your side by developing your personal Debt Relief plan and using the System of Debt Relief.


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