Imagine that after only seeing a credit report and some preliminary information the creditors make what you might consider a
high debt settlement offer such as 75 cents on the dollar.
This next image is the original
debt settlement offer letter (template) to use when negotiating a settlement on debt — the first document to send.
Attorney General Lisa Madigan and Acting Secretary of the Illinois Department of Financial and Professional Regulation (IDFPR) Michael T. McRaith warned consumers facing significant credit card debt about the risks of
debt settlement offers as she announced two lawsuits filed against debt settlement firms.
A consumer proposal is
a debt settlement offer made to your creditors to settle your debts.
In a perfect world, you'd never have to make
a debt settlement offer.
If you choose to make
a debt settlement offer by mail, here's what you should include in your letter.
If you're looking for money to pay
a debt settlement offer or a loan to consolidate your debt, an advance fee loan will seem like a godsend.
In this case, the only option really left is to make
a debt settlement offer to one or more of your creditors.
Use
your debt settlement offer letter and proof of payment to support your dispute if necessary.
A debt settlement offer of 25 % is usually a good starting place.
They must also tell you how much money or what percentage of debt you must save before they can make
a debt settlement offer.
The anticipated length of time expected to get results, including how long it will be before
a debt settlement offer will be made to each creditor.
In most cases the first debt settlement letters coming from the creditors are initial attempts to make contact the debtor combined with
a debt settlement offer that the creditor deems high, but certainly one the credit card company would be happy to accept.
Debt settlement offers the ability to eliminate your unsecured debt.