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Debt Pay Out Negotiation

If you are being threatened with legal action and lawsuits, learn what the UK couple did to get rid of most of their debt - fast.

Finally, after getting repeated calls, visits and legal threats the couple told the finance companies "go ahead, sue me, let me tell the Courts how you have been bullying me". Guess what – they never heard from the loan company again.

Things we very quiet so they phoned to find out when the court case was. The response was that no further action was being taken at that time. So the couple started looking into how many people got taken to court by loan companies and credit companies.

I strongly urge you to do the same thing. You will find out you have a lot of rights – in fact, it is illegal for finance companies and credit card companies to threaten you in any way.

Go to these sites, download the information packs and identify your rights.

Armed with that information go talk to the CC and Loan companies.

Our case couple owed one company £25,000 – they offered them £1000 or they were going bankrupt – the finance company accepted as full and final payment – and even better, he negotiated to pay the money off over 6 months.

Still £105,000 in debt, the couple then took £10,000 pounds – and used it to pay out the entire remaining debt.

He realised these people were just working in call centers doing their jobs. They are not bank managers. So make them a ridiculous offer – let them put it into the computer. If they accept – fantastic. If they reject, wait a week and make them a lower offer.

If they still reject your offer, wait a week and tell them this is your final offer – you are considering going bankrupt and they will get nothing.

Most of these call centers are on commission – if they don’t get your money, they don’t get paid. So if they think bankruptcy is imminent – they will eventually snap at your offers.

In summary:

Get clear about what your financial situation is
Work out who you owe what
Clarify your situation with them that you have a choice to either pay this or go bankrupt.
Offer them a minimum amount – with payment spread over 6 months

Next: Avoiding Debt Reduction Scams

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