Achieve Security Blog

Debt Settlement Negotiation

Debt settlement negotiation is a process that involves negotiating with creditors to accept less than the full amount owed on a past due account. This consumer debt relief solution is effective for helping people to pay off unsecured debt and regain control of their finances. Achieve Security offers a program to help you settle your debts and the most competitive fees in the industry.

The debt settlement negotiation process begins with a free initial consultation with one of our Debt Consultants. Your consultant will discuss your financial situation and determine the best course of action in your case. We will work with you to design a personalized plan for negotiation and savings. Debt settlement is different from debt consolidation, where your bills are combined into one loan with larger monthly payments.

Debt settlement involves reducing your debt and creating a savings plan with monthly payments that are often lower than your minimum credit card payments. The savings account is controlled by you and funds are dispersed at your request to pay off settlements as agreements with your creditors are reached.

In most cases, creditors agree to debt settlement negotiation because they understand that the balance is unsecured and if you file bankruptcy, they will likely get no money. However, when an agreement is reached, you will need to have the funds to pay off the remaining balance. Although each situation is different, we are often able to negotiate settlements that are significantly lower than the full balance, saving our customers thousands.

What Is The FTC And How Can They Help Me With Creditor Calls?

The Federal Trade Commission (F.T.C.) is the only federal agency in this country that has the ability to handle consumer protection issues on a federal level that involves the pursuit of agencies who engage in unfair and deceptive acts of business against consumers. Although established in 1938 for the sole purpose of regulating anti-trust violations, the Federal Trade Commission has evolved over the years to now establish and administer a wide variety of consumer protection services performed by the Bureaus of Consumer Protection.

So what does this mean for you?

What we fail to realize as consumers are the assortment of laws established by the Federal Trade Commission and the ability of these laws to help assist us against creditors. When a creditor calls you before 7:00 am, is it legal? Everything you need to know about what regulates the creditors who may be calling you can be found at www.ftc.gov. If you feel that your rights have been violated, we urge you to contact the Federal Trade Commission to file a formal complaint at https://www.ftccomplaintassistant.gov.

If you believe in any way that a debt which is now being collected by a 3^rd party debt collector is either not yours, not accurate, or unrecognizable, it would be in your best interest to take advantage of the opportunity afforded to you under this law by doing any of the following;

• Requesting copies of the original signature on applications for the alleged credit
• Requesting proof of each and every charge made since alleged credit was issued to include any periodic change in interest rate and/or fees
• Requesting proof of signature of receipts of alleged purchases made on the account since alleged credit was issued

Demanding validation is a right that is afforded to everyone; for information regarding this along with many other laws pertaining to debt collection, please visit http://www.ftc.gov/ for more information.