Sentences with phrase «creditor agrees to a settlement»

If the creditor agrees to a settlement amount, stipulate that the creditor should report the debt to credit agencies as «Paid - Satisfied.»

Not exact matches

Your creditors have no obligation to agree to negotiate a settlement of the amount you owe.

Creditors will agree to a settlement only with consumers who are unable to stay current on their bills.

Creditors that agree to settlements, only agree on accounts that have already defaulted or at risk of being defaulted.

Debt settlement has two possible meanings: It can refer, as debt negotiation, to the process of agreeing with creditors new repayment programs or it can imply some sort of legal settlement.

Debt settlement is intended for consumers who are unable to pay their bills, and if a creditor does not agree to settle, then a debtor may be forced to file bankruptcy.

Once you have approved the offer the agency will release the settlement funds, based on the agreed amount, to your creditor.

Once you join their debt settlement program you'll have to stop paying your creditor and set aside an agreed amount to an insured account with the firm.

There's a chance that some creditors won't agree to a settlement.

His creditors agree to forgive $ 9,000 as part of a settlement.

You were insolvent when your creditor agreed to the debt settlement.

Moreover, if your current financial situation is complicated, settlement agents can agree with your creditors new grace periods for you to recover and retake payment of your debt once your situation has improved.

Debt settlement companies and law firms will negotiate with creditors to agree the overall figure, and then set an austerity structure that will see the debt cleared on time.

Debt settlement companies approach your creditors and negotiate a plan in which each creditor agrees to cancel the loan for less than what you owe in exchange for a lump sum payment.

You want to save more money, but you should have proper negotiation skills to convince your creditors to agree to settlement

By contrast, debt settlement relies on your creditors voluntarily agreeing to accept less than the amount that is legally owed.

For a debt settlement to eliminate all debts all creditors must agree; a consumer proposal is binding on all creditors if over 50 % of the dollar value agree.

You may be able to on your own get the creditor to agree to a settlement, but unless the cosigner also signs the agreement, the cosigner could be on the hook for the rest of the balance.

The definition of debt settlement as found in Wikipedia states, «Debt settlement, also known as debt arbitration, debt negotiation or credit settlement is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.»

Your creditor has agreed to accept a reduced amount and write off the remainder of a debt (a «partial settlement»)

If Tim negotiates a settlement, and his creditors agree to accept 45 % of the outstanding balance, then he has to pay = 45 % of ($ 175,000) = $ 78,750

A Licensed Insolvency Trustee negotiates with your creditors repay the agreed settlement amount over a period of up to 5 years in exchange for which you keep your assets.

Under a debt settlement arrangement, your creditor agrees to accept a lump sum payment of less than your unpaid debt to resolve fully your debt.

If the creditor and our client «mutually agree» to the reduced settlement offer, written confirmation is given to our client from the creditor, and the funds are immediately released and paid directly to the creditor.

In all cases, once the creditor agrees to the reduced amount (settlement amount) and confirms this in writing - the funds will get paid directly to the debt collection company from the client's savings account, and the balance will reflect as «zero dollars owed.»

Why would a creditor even agree to work with a debt settlement company?

In all cases, once the creditor agrees to the reduced amount (settlement amount) and confirms this in writing — the funds will get paid directly to the debt collection company from the client's savings account, and the balance will reflect as «zero dollars owed.»

Why would a creditor agree to a debt settlement?

Debt settlement is when a creditor (or creditors, as is the more likely scenario), agree to accept less than you owe to consider your debt paid in full.

Making a mistake in the settlement process could hurt your chances at getting the creditor to agree to a reduced payment.

Ultimately, while debt settlement services can help negotiate on your behalf and help manage your payments to creditors, not all creditors will always agree to accept less money than they are owed.

Think of it as a settlement of the debt, where the creditors will most times agree to it if they see you are offering to pay back more than if you had filed bankruptcy.

The negotiating company will negotiate a settlement with your creditor, once an attractive settlement is achieved, the debt negotiation company contacts the consumer to provide the details of the settlement, once the consumer agrees to the offer, the creditor then gets paid directly from the consumers trust account.

Yes, some creditors may be willing agree to a debt settlement, but doing so isn't always the right strategy for everyone.

Sometimes the creditor will report the «debt paid in full», or «paid by settlement», but in the best cases the creditor will agree to remove the account from your credit report entirely like it never existed.

I think that in a situation where you don't have at least 60 % of the cash on hand to settle your other accounts, the other creditors won't agree to a settlement, and you've had a substantial loss of income in the home, that bankruptcy is a much more reasonable solution.

Debt settlement usually occurs when a creditor agrees to accept a lower payoff than what you actually owe to them.

Debt settlement companies can no longer advise clients to stop paying creditors and are required to notify clients that creditors may not agree to reduce balances owed, and that debt settlement plans can negatively impact consumer credit scores.

A debt settlement occurs when a creditor agrees to accept less than the balanced owed on a debt.

Debt settlement is achieved through the deliberate non-payment of debt until the creditor panics and agrees to close the account if you pay at least a part of what you owe.

Most of my other creditors have already agreed to settlements.

With most settlements you do need pay off the each individual credit card debt all at once in a lump sum by paying the creditor the reduced debt settlement figure they have agreed to with your debt negotiation firm.

While many credit counseling agencies are non-profit, debt settlement companies are for - profit businesses that agree, with no guarantees, to negotiate with creditors to pay off your debts in a lump sum for a fraction of what you owe.

Creditors agree to debt reduction arrangements where they feel a settlement of the debt will be in their best interest.

A debt collector could claim your payment as evidence you agreed to the terms set by your original creditor — and the settlement you worked so hard to get goes up in smoke.

Debt negotiation or debt settlement is an option where the company negotiates with creditors to reach an agreed - to amount to pay off the original debt.

These organizations negotiate settlements with your creditors, then set up a special account for you to pay the agreed - upon amount.

So the creditors don't agree to the settlement or the debt settlement company just decides, well, you haven't saved enough money so therefore we're booting you from the program.

In some cases, the creditor agrees to have the negative marks come off your credit once they receive the settlement.

A debt settlement involves getting your creditors to agree to take less than what you owe as full payment for the debt.