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DEBT ARBITRATION
Debt Arbitration, also known as debt settlement, means that you apply to a professional negotiation or debt arbitration company. After signing a contract with the company, the company will have you stop making payments to all your creditors. Instead, the professional negotiators at the debt arbitration company will contact all your creditors, explain that you are in debt settlement, and negotiate the amount you owe. Often, these negotiators are able to convince you creditors to drop penalty charges, late fees, reduce interest rates, and in some cases even reduce the total amount you owe. This helps ensure that the large amount of debt you have does not all have to be repaid. This can save you hundreds of dollars or even thousands of dollars. While you are in debt arbitration, youll pay your settlement company a smaller amount than you currently owe each month. The settlement company will put this money into a special account. When agreements have been reached with all your creditors, this money in the special account will be used to repay the money you owe. Some of the money will also be used to pay your settlement company for their services. At the end of the debt arbitration process, which can take from months to years, you will be debt free. United Debt Relief negotiates with your creditors to reduce your fees and interest rates. We develop affordable monthly payments that can help you get a fresh financial start. We get your lenders to agree to accept less than the total amount owing, making getting out of debt a realistic possibility. |
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