Posted on
August 6, 2009
at
11:55 pm
Do you happen to give out settlement agreements sample? A link would do, thank you!
Posted on
August 7, 2009
at
12:05 am
You may also fill out one of the forms here at destroydebt.com if you have any other questions with regards to debt settlement and other debt relief options available for you. It is free.Were you wondering about how a debt settlement company and the creditors arrive at an agreement? Were you asking for a sample of such an agreement?
Posted on
August 7, 2009
at
12:25 am
If you're wondering about what transpires between a debt settlement company and the creditors before reaching an agreement: a debt settlement program includes:- negotiation of the consumer's balance to be reduced to 35% to 50% -and sometimes to as high as 75% from the original amount.- at this point, the consumer has completely stopped paying the creditors, to be able to save up for the negotiated amount later (agreed upon amount), in his/her own savings account or an escrow account, set up by the settlement company.-the creditors and the negotiator (from the settlement company) would reach an agreement (amount).-the negotiator would have the creditors report the account as "settled" or "paid."
Posted on
August 7, 2009
at
1:28 am
What necessitates these debt settlement agreements?
Posted on
August 7, 2009
at
1:38 am
You mean how do consumers find themselves in so much credit card debts? Aside of course from unwise usage of the credit, if the credit card interest rate is 19.9%, if the consumer's balance is above zero, he/she is going to be charged 19.9% of that card's balance every year. If the consumer is only meeting the minimum payment or is not at all able to meet that, he/she is going to be charged stiffer interest penalties. If that trend goes on, that's how the consumer finds himself deep in credit card debt that he can no longer afford, and prompting creditors, in the worst case scenario, to sue the consumer. The consumer wanting to avoid facing legal charges contacts a debt settlement company..and that's how debt negotiation/settlement is necessitated.
Posted on
October 12, 2009
at
3:31 am
What is usually the content of this settlement agreements? Can somebody show a sample?
Posted on
October 12, 2009
at
3:40 am
Okay just to clear things up a little: Definition of terms:
Debt Settlement Letters - means that the consumer and the creditor have agreed to settle a credit card debt. The consumer must receive a debt settlement letter before he/she even starts paying for the agreed upon amount (balance).
Debt Settlement Letter or Debt Validation Letters (also known as Dispute Letters) - According to the Fair Debt Collection Practices Act (FDCPA) (a third party debt collection agency is required to send the consumer a written communication (within 5 days after the first contact) containing the following information: -the amount owed;-the name of the creditors -that within 30 days of receipt of the letter, it will be assumed the debt is valid, if the consumer doesn't dispute it-but if the consumer sends a letter of dispute, the collection agency is required to obtain verification of the debt or a copy of a judgment against the consumer and mail a copy to the debtor. *but once a debt is disputed a debt collector is required to stop their collection efforts until the debt is in fact validated.
Cease Communication Letters (aka Cease & Desist Letters)
Posted on
October 12, 2009
at
3:46 am
There's another one, for when the consumer has been served a summons
Sample Lawsuit Answer Letters The consumer that has been served with a lawsuit would have between 20 and 30 days to respond. It is important for the consumer to not ignore this letter as it contains the exact time that he/she has to resolve the issue with the creditors. Failure to respond to the complaint in time may result to a default judgment against the consumer.And there is a filing fee for this.
