In a nutshell, what Debt negotiation is is an agreement between two parties, you and your creditors, with the goal being the agreement upon a final settlement figure to make your payment final and eliminate the debt.
It is a definitive solution to your debt issues or problems and it should be the last resort used in case the situation is nearing bankruptcy.
Debt negotiation is very often confused with debt consolidation and debt counseling which honesty, are completely different things altogether.
Getting a Lawyer to Help You On Your Debt Negotiation Efforts For very obvious reasons, debt negotiation Lawyers can be of a lot of assistance in any debt negotiation and settlement situation although their cost may be prohibitive to many people.
The truth is that these trained lawyers are very keen on how to talk the language of your creditors and they have the experience to negotiation great deals that a layman might not be able to achieve.
However, it is important to also understand that it is not required that you have a lawyer to achieve a good result on your debt negotiation.
Credit Counseling And Debt Consolidation Reaching a settlement may normally take several phone calls and other kinds of negotiation so if you are willing to do it yourself, be prepared to deal with paperwork and making such calls.
Debt Counseling There are many credit counseling firms out there that affirm that they provide debt negotiation services.
The fact is that a lot of these companies that sprout on the internet everyday are associated with or straight up owned by the credit card companies or other financial institutions.
It is also true that this industry experienced a phase of extreme growth in the last couple of decades as Americans became increasingly indebted.
It made it somewhat difficult to find credit counseling companies that can be trusted today.
If you need bankruptcy counseling or debt settlement services, your best bet may be to find an associate of friends or family or seek a local lawyer that is specialized in this area of law.
Debt Consolidation Loans Debt negotiation companies in most cases do not offer loans to consolidate your debt.
I have never heard of one which did at least.
In fact, these types of loans are not your in your best interest.
The costs of such loans can add up and then you still owe the same amount of money.
Whatever you choose to do, be it to negotiation your debts yourself or to find a local attorney who can negotiate them for you, you should be able to get great discounts on your final debt amounts if you can make a lump sum payment.