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Cheyenne Golden

Bio Statement Debt Settling Made Easy - How You Can Save a Pile of Cash

Debt settling is the process of negotiating with your creditors to pay less than the full amount you owe them. Debt settling often is used to avoid bankruptcy. Creditors often will agree to a settlement because they would rather get something instead of nothing that they would receive in a bankruptcy. 

What is involved in debt settling, and can you do it yourself? 

Creditors will negotiate with you if they feel that they may be in danger of being named in a bankruptcy. The way you get them to feel this way is simply to stop paying. They will start calling and sending letters, and eventually either outright make a settlement offer, or be willing to listen to one.

Your task is to come up with a lump sum to pay the agreed settlement amount. This is usually accomplished with tax refunds, tax refund cash advance, or simply by saving the money you would have been paying to the creditor.

Debt settlement companies will have you pay into a special account set aside for the creditor. Trouble is, the settlement company will take their cut - usually 15% of the total owed - right off the top. This makes it awfully difficult to save the amount needed in the time allowed. 

Debt settling can be accomplished fairly easily by any average person though. In this way you won't have to pay a third party to do something you can do yourself, namely negotiating with the creditors. If you know what to say to whom, and when, you can get as good a settlement as a settlement company.

Debt settling is a great strategy to reduce or eliminate your total debt load, or avoid bankruptcy. Most people are capable of doing it themselves too.

Debt settlement is a way for you to potentially save thousands of dollars. To see a side by side unbiased review of three highly popular do-it-yourself debt settlement programs, visit: Do It Yourself Debt Settlement [http://www.diydebtsettlementcourses.com].

John Phillips owns and operates http://www.diydebtsettlementcourses.com