Debt Relief with American Debt Affiliation
Many Americans are suffering under the burden of credit card debt, but more and more are finding relief through various Debt Arbitration Practices, at American Debt Affiliation we're dedicated to finding the most beneficial solution to your financial hardship. American Debt Affiliation is your gateway to financial freedom, Call or Inquire Today and find out how we can help you with our No Cost, No Obligation, Free Consultation.
Debt Settlement
Our debt settlement program involves negotiating an agreement between you and your creditors to settle your debts for less than what you owe. You maintain control of your finances throughout the debt settlement and negotiation process.
A typical large debt settlement company will set up a trust account on your behalf with a 3rd party organization like a bank. Once you and your debt counselor determine a payment plan for you, you will make that payment directly into the trust account instead of paying your creditors directly.
The main attraction of debt settlement programs is the fact that you can erase your debt completely by paying less than you actually owe. You may only have to pay up to 50% to 60% of the original amount owned. The debt settlement company may convince the creditors to lower your monthly payments, lower interest rates and waive off the penalties and late fees.
Debt Consolidation
Debt consolidation is a process by which we can negotiate with all of your creditors to try and obtain the lowest monthly obligation needed for you to satisfy all of your current unsecured debt accounts.
You'll make one LOW monthly payment which is then portioned out to your creditors.
Creditors also recognize that people who enter into a debt consolidation program are trying to repay their debts in good faith. Creditors are usually more willing to extend terms to these clients in the hope that they will avoid the account from being turned over to a collections firm or the account holder going through the expense of declaring bankruptcy.
Debt Negotiation
Debt Negotiation is the process of negotiating with a creditor to pay off a percentage of a balance owed on old bills, invoices, lawsuits, liens, medical bills, utility bills, and judgments. This process is commonly used in debt settlement and debt arbitration. Since 30% of the 1.6 million bankruptcies filed in 2005 occurred on debt that was current, it is often in the best interest of creditors to negotiate management debt repayment schedules with debtors experiencing hardship. They do this through their own programs, promoted through credit counseling, independent debt arbitrators or Law Firms using debt negotiation.
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