Asked in Debt and Bankruptcy
What are the advantages to the creditor of debt mediation?
Mediations means you work out what you are going to pay them. So their advantage is that you are going to pay them less than you owe, but not file bankruptcy which would leave them with nearly nothing.
The advantages to the creditor of debt mediation allows both the creditor and debtor to resolve the debt or judgment rapidly, which avoids undue delay and costs to both parties. It can be applied to our current foreclosure crisis.