What is debt negotiation?
Debt settlement & negotiation is where your credit cards and unsecured debts can get reduced and satisfied for less than the full balance owed.
The creditors want to get paid and realize that if they don’t cut your balances down – they may never get paid. Trained and IAPDA certified negotiators go in and negotiate with your creditors, offering them only a fraction of your total balance owed to resolve your debt.
You get to resolve your balance in full, and only end up paying around half of what you owe.
Results do vary when it comes to settling a debt, so debt negotiation companies can only give you a quote. Reputable debt negotiation companies will quote you based on past client results, and will always quote you conservatively.
Ready for a quote? Simply, click here to use this online debt calculator. Plugin your total debt and a monthly payment you can afford to pay, and hit calculate!
You may also contact one of our IAPDA certified counselors for a debt negotiation quote by phone at (866) 376-9846.
What about credit card debt negotiation?
Golden Financial Services has been negotiating and settling debt since 2004. We will lump together hundreds of clients worth of credit card debt, and then go to your creditors and negotiate based on a massive amount of debt. That’s how we solidify the biggest discounts on credit card debt.
We may tell Citibank or Chase, “here’s two million dollars worth of credit card debt, and we can pay you $500,000 TODAY if you report these accounts paid in full”. By using this bulk settlement approach, we get our clients huge discounts every single day!
- Golden Financial Services is Certified by the International Association of Professional Debt Arbitrators (IAPDA), which is an organization that trains and certifies debt negotiation companies.
- On top of this certification, Golden Financial Services is A+ rated by the Better Business Bureau.
- We can give you a free debt negotiation quote, and within just a few minutes you can find out how low your payment can be.
Call today at (866) 376-9846 and get your free debt negotiation quote!
How much can I save with debt negotiation?
Your balances can be reduced by around 40-50%, before fees.
With fees included you would only end up paying around 70% of your total debt, and no added interest or fees on top of that!
- With a debt negotiation program you can pay this amount back over 2-3 years, so your payment can be small and affordable.
- You can always pay more if your income improves over time. There are no penalties for paying extra and graduating the program faster.
When do fees get charged for debt negotiation?
You only pay for debt negotiation services at the time your debt is negotiated down and settled. You paying nothing if results aren’t achieved. Golden Financial Services offers a performance-based debt negotiation program that’s compliant with federal laws.
Some debt settlement companies and law firms will charge you upfront fees and never perform, these companies are operating illegally. Never use a debt settlement company that tries to charge you a fee before the work is done.
Does debt negotiation hurt my credit score?
After you join a debt negotiation program your credit score will continue to go down because your creditors are not paid on a monthly basis. Over the first 6-12 months of the program, in most cases, a debt will be settled, and as your debts get settled one by one you may start to see an improvement in your credit score.
There is no guarantee that your credit score will improve as your debts get negotiated down and paid, but in most cases, clients do see an improvement over time. The key to improving your credit score is to pay your bills on time. So you need to continue paying your other bills, like your mortgage and car payment on time, while you are enrolled in a debt negotiation program if you want to improve your credit score by the time you graduate the plan.
Is debt negotiation the best option to get out of debt fast?
If you have past due debt collection accounts, it’s recommended to start with debt validation.
Debt validation will challenge the debt collection companies to prove they are abiding by federal laws and have accurate and complete records that are legally required to collect on debt.
If a debt collection company can’t produce the legally required documentation – they must stop collection on the debt and cannot continue legally reporting it on your credit report.
Debt validation can be the least expensive debt relief option if you have past due debt collection accounts. If the debt is proven to be valid, then debt negotiation would be your second best option.
All debt relief programs come with potentially negative consequences.
Read about the positive and negative side to each debt relief program by visiting this page next.