Imagine the Day You Finally Resolve All of Your Unsecured Debt!

Do It Yourself Debt Settlement also known as Self Help Debt Settlement is a viable alternative to resolving your debt. The dirty little secret Debt Settlement Companies do not want you to know is: They charge you thousands of dollars for a service that you can accomplish yourself. Hiring a debt settlement company is like hiring someone to tie your shoes.

Once you have decided to utilize self help debt settlement, you must make an unyielding commitment to the process. It is essential that you understand that your creditors, in almost every case, will not even discuss settlements if you are currently paying them. Once you stop paying your creditors, the debt settlement process begins. The creditor is going to start escalating their collection processes in an attempt to mitigate their financial losses. Your creditors will start calling you to bring your account current. Do not avoid these phone calls; these calls are your opportunities to advise your creditors of your intentions and initiate the negotiation process.

Debt Settlement Companies make claims that if you make them monthly payments your debt will be resolved with in 24, 36 or 48 months. The payment amount seems to be reasonable to most people. A basic rule of thumb should apply to the above: If it seems too good to be true, it probably is! What the debt settlement companies forget to advise their clients (or hide it in the fine print of the contract), is that they take the first several payments to cover their sign up fees.

Most people who enroll with Debt Settlement Companies are under the assumption that the creditors have working relationships with the Debt Settlement Company. This is a false assumption; in point of fact, they have an adversarial relationship at best. This adversarial relationship impedes as well as prolongs the debt negotiation process.

The fact that you are willing to discuss your intentions with your creditors is to your advantage. By attempting to negociate terms or settle your existng debt at an early stage will save you money. This along with the fact that you will save thousands of dollars by not hiring a debt settlement company, will assist you in resolving your debt months, if not years earlier.

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