How to Settle Debt with Debt Mediation Services

There’s no shame in asking for help. If you are in desperate need of help with debt management or settling debt, then you should consider working with a firm that specializes in debt mediation services.

A debt mediation firm isn’t like working with collection agencies or another type of debt settlement organization that promises you the world but rarely delivers. A firm that is experienced in debt mediation services will work alongside you to negotiate with bill collectors and other creditors to reduce and reach a debt settlement agreement. The ultimate goal is to reduce the total amount of debt owed.

Read on to learn more about what you can do to settle debt, and how you can work with a debt mediation services firm to help you achieve the best debt management results.

Determine what you can afford to pay – Once you have determined that you need help with debt management and settling debt, your first step should be to organize all the debts you owe. Start by making a list of all creditors and the total amount you owe to each creditor. Then, determine what you can afford to pay. It may be as low as $20 per month, but creditors and collection agencies will appreciate you trying to work out an agreement with them.

Ask to remove negative information off credit report – Reach out to each creditor and collection agency and set up installment/payment plans with each of them. Once all debts are paid in full, your next step should be to talk to them about removing all negative information from your credit report. Some creditors will agree to this and others won’t, but it’s worth the try.

Get all debt settlement agreements in writing – Once you have a game plan set in stone with each creditor, be sure to ask for all your agreements in writing. Having this information documented and in writing will not only keep your agreements organized, but they will also serve as evidence should one creditor not hold up their end of the bargain.

How Miller, Stark, Klein and Associates Can Help

This might seem like a lot to take on, especially if you are worried or feel scared about the amount of debt you owe, but this will show your creditors and collection agencies that you are attempting to settle debt rather than ignoring it. Ignoring debts entirely will only make matters worse, and definitely won’t make them go away.

If you need help with organizing and managing your debts with creditors, or if you believe you owe more in debt than you can afford, then it’s a good idea to reach out to a debt mediation services firm.

At Miller, Stark, Klein and Associates, we don’t believe in judging those who come to us for help; rather, we work with them and their creditors in attempt to reduce the total amount of debt owed to creditors. We believe in truly making a difference in our clients’ lives.

To learn more about how the team at Miller, Stark, Klein and Associates can help you with your debt management, and to find out if debt mediation services are right for you, contact the team today by calling (888) – 813-6630.

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