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What is the average amount accepted by credit card companies in a debt settlement?
Wiki User
∙ 14y ago
Answer:
Generally the amount accepted by credit card companies in a debt settlement varies depending on the amount of debt and the company you are negotiating with. The average would be anywhere between 70% to 50% and sometimes you might get it settled for around 45% also. I guess it is better to leave these tasks to a debt settlement company, their knowledge and experience puts them in the best position to stand up to your creditors and fight for the best settlement possible. I would recommend you for companies like freedom debt relief which are legitimate and reputable.
Wiki User
∙ 14y ago
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How can you clear my debts?
Debt settlement is highly successful and gets you out of debt quicker than any other method (12 - 36 months on average). Debt settlement is the process of negotiating with your creditors/debt collectors for a lower, agreed upon, amount to get you out of debt faster.
What does loan accepted on principle mean?
The phrase 'loan accepted in principle', is commonly used by companies which use very basic underwriting criteria for the first stage of the application process. Some companies will say you are accepted if your over 21, employed, and have a direct debit facility. This in no way means that you are accepted, they may even charge you an up front fee to continue with the process. Not until you have a firm offer of a contract stating your loan amount, monthly repayment etc must you consider you have had your loan accepted. If you wish to get any further info please leave a reply here or on www.findingaloan.co.uk Thanks Paul
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There are many disadvantages to using debt settlement agencies. One of these disadvantages is that they will charge a certain amount of the money amount being disputed for their services.
What is a Settlement Loan?
A Settlement Loan or Settlement Loans are cash advances and part of lawsuit funding services offered to plaintiffs. A settlement loan is a cash advance for a plaintiff when that particular case has been settled or is awaiting a settlement claim payoff. When this happens, or when a case is settled, this does not mean the plaintiff obtains their funds from the case immediately. that settlement claim still has to go through a few more hoops and legal procedures and often times a plaintiff just can't bear to wait any longer to recieve their cash. Many have waited long enough just to get to this point. When this occurs, a plaintiff may seek out a settlement loan, offered by lawsuit funding companies, in which 2 primary options are available. The plaintiff can obtain the whole settlement amount or a partial advance on the amount in which the case is settled, of course at a small interest rate. Because this is non recourse based, the rate is much lower than average legal financial firms. Most of the time it is recommended to take only the amount you need until that case is settled to avoid losing out on additional funds that would come from this option.
Is debt settlement a good choice?
AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.
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