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Should I negotiate with the creditors myself or hire someone to help?
Whether you decide to negotiate directly with the creditors yourself or hire someone to act on your behalf is entirely up to you. However, professionals know how much each creditor will accept, the best time to settle, and how to best approach each creditor to maximize your savings. Plus, many times, the professionals know how collectors think, know how to talk to them, and can see through collector tactics that intimidate people into paying full balances or close to them. Plus, professionals typically have an extensive network of contacts within the credit card companies and collection agencies, which can give you a distinct advantage over those attempting to negotiate without professional assistance.

If you are struggling to pay your minimums, it may be worth it to you to take a temporary hit on your credit in order to free yourself from your debt burden.

Refinance Debts to Lower Monthly Payments
It is difficult for people to get out of debt. Many homeowners make the mistake of only making the minimum or interest only payments, which make it very difficult to actually rid yourself of debt. With homeowners making only minimum amount of their monthly repayments, debt can be a vicious circle and near impossible to get out of!

Loan Modifications for Homeowners
The U.S. Department of Housing and Urban Development (HUD) defines a loan modification as a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.

Credit Repair after Debt Negotiation
Although debt settlement will damage your credit, you can legally work on repairing it. Credit repair is a three-step process.

Is Debt Settlement Legal?
Debt settlement, also known as debt arbitration and debt negotiation, is a legal process that facilitates the negotiation of debt settlement between the debtor and the creditor. Debt settlement is the fastest growing trend in debt resolution.

Why Debt Settlement is Better than Bankruptcy
Believe it or not, creditors will accept less than what you owe if they feel it's in their best interest to do so. A creditor will accept a debt settlement of anywhere from 30% to up to 60% if they feel the person requesting the debt settlement is a legitimate candidate for bankruptcy.