People in dire financial straits often think of declaring bankruptcy and avoid payments of all debts. This strategy, though attractive to some people, should be the last option for any one with serious debt problems. There are other ways of settling debt and structured debt settlement is one of the best ways of ensuring complete payment of a hefty debt over a set period of time. If you are looking for structured debt settlement then you should try the structured debt settlement plans. They are different from ordinary settlements in a number of ways. The major standout feature is the amount that is paid over the set period of time.
Structured debt settlement will enable you to either pay large sums in monthly or quarterly payments or small amount of money in monthly payment. Negotiation is the key to ensuring complete elimination of debt without incurring any losses or paying any hidden charges. The first strategy that you can apply to settle your debt is to contact your lender. You need to be open about the difficulties that you are facing. Try to enter into a structured settlement deal with the original lender. It often happens that original lenders do not agree to these plans. Many refuse outright while others add plenty of additional charges to make the payments higher for the clients. There are some lenders that agree to structured settlement plans but only after you have presented your case well.
Purchase Structured
It is therefore recommended that you should contact a debt settlement company that deals specifically in structured payments. There are plenty of companies that offer structured debt settlements. There are however two main types of businesses that will help you in settling your debts. First are the companies that do not offer new loans and do not buy any loans from you. They act as facilitators and consultants and guide you through the whole process of debt settlement. Experts at these companies will guide you on negotiating with your original lender. They will prepare documentary proofs and other paperwork that will be used in finalizing settlement deals. These companies will charge you a set amount for their services.
The second type of companies offer more than just financial consultancy. They are eager to buy your loan at prices that are either lower than or equal to its market worth. They will buy the loan and will enter into a deal with the original lender. You will thus remain out of the loop and will not have to enter into any tough financial negotiations. These companies often charge significant fees and add hidden charges into the final settlement deals. Some other companies will even add taxes and other payments into final deals and you will end up paying a huge amount.
Structured debt settlement deals can be negotiated with these companies but only after you have done your homework. A negotiation with the original lender is a preferable option given the ease with which you can negotiate the final settlement plans.
How to Negotiate Your Structured Debt Settlement
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