The Art Of Debt Negotiation - Paying Back Less

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The Art Of Debt Negotiation - Paying Back Less
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About us

• We at Credit 720 work for you in a similar way
  just as your Tax Consultant or Accountant. You
  hire our expert advice in debt negotiations as we
  help protecting your assets and safeguarding your
  rights as our esteemed client.
• Our goal and aim is to protect your best
  self-interest and not the creditors, the advice
  that we offer will make sure you are represented
  and treated fairly regardless of your current
  financial situation with respect and dignity
  throughout the negotiation process of a Consumer
  Proposal or a Bankruptcy until you receive your
  final discharge or a Certificate of full
  performance and ultimately help you preserve a
  good credit rating which is our ultimate  GOAL at
  Credit 720.

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The Art Of Debt Negotiation - Paying Back Less

• If When you convince creditors to allow you to
  pay back less than you owe, it is thanks to your
  art of debt negotiation. Whether you can do it
  yourself or get help from an experienced and
  expert debt negotiation agency in Canada, debt
  negotiation is a burning issue for Canadians, and
  today, we are going to give you some good
  insights into the art of debt negotiation.
• Logically, lenders who lend you money expect some
  earnings on their investment through interest
  rates. So, asking them to forgive some amount of
  your debt is not a pleasing offer for them. They
  can take other routes to recover their original
  money and interest, such as high-pressure
  collection calls, wage garnishment, and bank
  account freezes.

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Risks Associated with Debt Settlement in Canada

• Every coin has two facets. Therefore, debt
  settlement in Canada also has some risks
  associated, such as
• Impact on Credit Scores
• During the debt settlement process, borrowers
  negotiate with lenders to cut debt, including a
  portion of the principal amount besides interest.
  Its not good in the eyes of credit score
  deciding agencies in Canada they leave a mark on
  it and decrease the credit scores of those
  lenders with negative remarks.
• The remarks remain for seven years in Canada on
  credit scores and prove the biggest hurdles on
  the road to obtaining fresh credit from the
  market, financial institutions, or government
  agencies.

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Risks Associated with Debt Settlement in Canada

• Impact on Taxes
• Canadian tax laws consider forgiven debt as
  taxable income. So, be ready to pay those taxes
  or consult your tax consultant.
• You May Invite Legal Action
• Debt negotiation doesnt mean the lender will not
  take legal action against you in the future and
  recover their full amount or total debt from you
  besides interests on the principal amount.

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Risks Associated with Debt Settlement in Canada

• Cash Requirement
• If you have small to midsize debt, chances are
  high that lenders may ask to deposit either the
  remaining amount of debt or a portion of debt
  immediately after the debt negotiation process
  and their approval. So, borrowers must have that
  provision first.

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Risks of working with a Debt Settlement Company

• There are some risks associated with debt
  settlement companies, and we must be aware of
  them before hiring them. Those risks are
• You Must Bear Fees
• Profit for service companies, when involved in
  debt negotiation on your behalf, they charge high
  fees, and you need to pay them in advance whether
  they succeed or not.
• Negotiation Can Take Longer Time
• No debt negotiation company can promise you a
  deadline for their attempts. It may take longer,
  and you must pay original installments and
  interest. Only LIT (Licensed Insolvency Trustee)
  can provide your protection when they work on
  your consumer proposal.

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Risks of working with a Debt Settlement Company

• You Must Bear Penalties Interests
• Suppose you have started debt negotiation with
  your lender it doesnt mean you can stop paying
  regular installments and interest during the
  negotiation period.
• You should continue paying all until you reach an
  agreement and a new payment schedule has been
  agreed between both parties.
• Otherwise, your lender can report negatively to
  credit bureaus, hurting your credit scores.

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What to Do in Debt Negotiations Vancouver in
Canada?

• Remember the following tips when you go to debt
  negotiations in Vancouver, Canada.
• Lower your interest rate.
• Create a repayment plan.
• Look into debt forgiveness.
• Consider debt consolidation loans in Vancouver.
• Offer a one-time payment.
• We are a dependable debt negotiation company in
  Vancouver/Surrey. We always think in your favor
  and be true representatives in your debt
  negotiation process.

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Contact Us
Surrey Unit 456, 2153 Central City 10153 King
George Blvd Surrey, BC, Canada V3T 2W1 (Inside
Central City Mall, across Burger
King) Telephone [phone]
Fax [phone] Email info_at_credit720.ca We
bsite www.debtconsolidationbc.com