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Debt NegotiationsDebt negotiation is a process by which a debt settlement company works directly with a consumer’s creditors to negotiate a reduced principle balance repayment of unsecured debts. Is Debt Settlement the same as Debt Consolidation? This is not the same as debt consolidation, which consists of obtaining a loan in an amount that would cover your existing debts and consolidating those debts into one loan repayment. Debt settlement addresses each account individually and negotiates for a reduction in principle balance. Important things to know about Debt Settlement
 Can I negotiate directly with my creditors? Yes, you may be able to negotiate with your creditors and we do not discourage you from trying. However many consumers prefer to use a professional debt settlement service to avoid “going it alone” for many reasons.
 Beware of Debt Settlement Scams On the other hand, there are many debt settlement companies doing business that will not represent your best interests. These types of companies will misrepresent how much they can reduce your debt, and not adequately disclose the likelihood that you would be sued if you take their advice and stop paying creditors. As always, it is essential that you educate yourself on the process of debt settlement and should you choose to use a debt negotiation service, do your homework to make sure you are working with a reputable company.  www.usoba.org  For a free consultation about debt negotiations, contact us toll-free at (800) 775-1820. We are available to represent people in Lisle and the surrounding parts of Illinois, including Will, Cook, Kendall, Kane, Kankakee, Lake, McHenry, LaSalle and Grundy Counties. |
















