Debt Settlement made Simple

Debt settlement companies are everywhere. If there is that many then the service must work and it must not be that hard, right? Well in this case it does work and it is not that hard.
The problem is that the debt settlement companies charge 15% of your total debt, not 15% of what they save you but of the total amount. So if you owe a total of $20,000.00, they will charge you $3000.00 and that is a front end loaded payment. WOW You needed help, not another right jab!
Well the process is not hard, you just have to know the rules and once you know that, you can do it as good as anyone and it will cost you nothing.
First you must make sure your situation qualifies. In other words, do you have an acceptable reason to ask for and be entitled to a settlement? The reason needs to be real, provable and directly tied to your inability to pay.
Second, you must prepare and be able to establish in a mathematical fashion why you cannot pay, and what you are able to pay. This is done by preparing simple budgeting documents and providing them a paper trail to establish why it is better they settle with you than continue to spend time and money trying to collect in full.
Thirdly, you must make your account less valuable to them by getting behind in your payments. Until you are behind, they will not settle with you. However you must do this in the proper fashion with the appropriate letters sent at the correct times.
Fourthly, sending the right letter at the right time is the biggest difference maker in an average settlement and a perfect settlement.
Lastly, you need to know the rules that govern all collections agencies.
This process will take about 6 months to a year to get into full swing but if you use a debt settlement company it will take much longer since that fee must be paid prior to them settling anything. So doing this yourself is faster, cheaper and more effective.
For more information on this process, go to www.socrossconsulting.com and check out the debt settlement tab. We have an eBook and video that walks you thru all the details and steps and will get you out of debt fast and will not add to your financial woes.