settlement agreement http://www.artwoo.com Returned search results for settlement agreement Copyright 2008 Mon, 01 Dec 2008 23:49:01 +0000 http://www.artwoo.com/rss/settlement+agreement 5 Benefits Of Creating A California Divorce Settlement Agreement http://www.artwoo.com/article/5-benefits-of-creating-a-california-divorce-settlement-agreement http://www.artwoo.com/article/5-benefits-of-creating-a-california-divorce-settlement-agreement#comments Sun, 26 Aug 2007 19:15:00 +0000 settlement agreementdivorce in californiadivorce casesremotely possibledo it right herejudgmentimportant financial http://www.artwoo.com/article/5-benefits-of-creating-a-california-divorce-settlement-agreement important financial transaction of your life, and the is virtually your entire divorce, so it is worthy of serious consideration. A settlement agreement is the best thing you can do in most , but it takes time to work out, so be careful, take your time, and do it right.

Here's why you should work hard to get a well-drafted settlement agreement if agreement with your spouse is even :

1. With an agreement, you probably won't have to go to court. With one, you almost certainly will.

2. Essentially, your settlement agreement becomes your and you will be ordered to comply with its terms. This means you get to decide everything ahead of time and have total control over the Judgment. Without a settlement agreement the judge decides everything.

3. With a settlement agreement you can get far more depth, detail, flexibility and protection.

4. If your community property is worth more than $5,000, a settlement agreement is the only way you can arrange an unequal division, if this is what each spouse agrees is fair.

5. Once you sign, your divorce is mostly finished except for red tape and paperwork.

Perhaps most important, divorces that are settled by good agreements usually work out better afterward=97spouses are more likely to comply with terms, have better post-divorce relationships, better co-parenting, faster healing, and it just feels better.

These advantages are so important that you should work long and hard, if necessary, to get an agreement. In Chapter 6 of my book How to Do Your Own I explain how to create your own settlement agreement, when to get help doing it, and how to file it.

A good agreement is one that has been thoroughly discussed, worked out in great detail, and is very carefully drafted. All facts have been disclosed and you have given each other open access to every document and record. You want above all to avoid a situation where either spouse has second thoughts in the months after the agreement is signed. This means you want more than just signatures on the contract=97you want a true meeting of the minds on all points, and that means an agreement that has been thoroughly thought out and negotiated in depth and detail by each of the spouses, personally. You can easily and inexpensively draft your own agreement using Nolo's DealMaker Settlement Agreement Software, http://www.nolotech.com/CA/CA.html#3. Ed Sherman is a divorce specialist attorney and award-winning author of How to Do Your Own Divorce in California. His books and software have saved millions of people billions of dollars in unnecessary attorney fees. Visit http://www.nolotech.com/ ]]> Understanding Settlement Agreements http://www.artwoo.com/article/understanding-settlement-agreements http://www.artwoo.com/article/understanding-settlement-agreements#comments Thu, 14 Aug 2008 18:50:19 +0000 season ticket holdermisrepresentation actsettlement agreementadministrative agencybaseball teamlegal contractslip and fall http://www.artwoo.com/article/understanding-settlement-agreements Settlement Agreement is a effectuating a compromise between two parties, who agree to settle their disputes between them rather than resort to litigation. A Settlement Agreement usually contains a General and Mutual Release of All Claims, meaning that both parties release the other from any past, present, or future liability arising out of the events that led to the Settlement Agreement. For instance, typical language for a personal injury "" Settlement Agreement would be: "In exchange for release of all past, present, or future liability, The Tigers agrees to pay Stephens $35,000.00."

Most parties to a Settlement Agreement will want the agreement to recite that by signing the agreement they are not admitting fault, wrongdoing, or liability. More specifically, this paragraph could say that this Settlement Agreement does not constitute an "admission, concession, or evidence of any alleged fault, misrepresentation, act or omission or any other alleged violation of law, and it does not represent a formal finding of wrongdoing by any court or ." To further strengthen the point, the agreement might explain that the settlement has been entered into in the interest of resolving the issues raised by the complaints, investigations and examinations and to avoid the risks, loss of time and the costs associated with protracted litigation.

Because a settlement usually involves a payment of money from one side to the other in exchange for mutual and general releases, the agreement should clearly define how much money is going to be paid, in what form, when, and to whom. For instance, is the money being paid all at once or in payments over time? If it is being paid all at once, will it be paid directly to the client or to the client's law firm? Must it be paid before the agreement can be executed, or can it be paid shortly thereafter? The agreement should clearly answer these questions.

Sometimes a party will be agreeing to do or to refrain from doing something as part of a settlement. This section of the agreement, sometimes titled "injunctive relief", must describe what actions the settling party is agreeing to take or not to take. This section may also include language describing the consequences for breach. In addition, the agreement should contain a warranties paragraph, whereby each party covenants that no other person or entity has or has had any interest in the claims, demands, obligations, or causes of action referred to in the Settlement Agreement, and that it has not sold, assigned, transferred, conveyed or otherwise disposed of any of the claims, demands, obligations, or causes of action referred to in the Settlement Agreement.

Lastly, the Agreement should be written to express the entire agreement between the parties and should bind the successors of both parties. Each party should promise that it has obtained appropriate legal advice of its own choosing and that all terms of the agreement are fully understood and voluntarily accepted. The agreement should also state the governing jurisdiction, and finally, should refer to any supplemental documents necessary to give full force and effect to the terms of the Settlement Agreement.Mark Warner is a Setttlement Agreement Analyst for RealDealDocs.com. RealDealDocs gives you insider access to millions of legal documents drafted by the top law firms in the US. Search over 10 million Documents, Clauses, and Legal Agreements for Free at http://www.RealDealDocs.com]]> 7 Tips on Finding a Debt Settlement Company For Your Credit Card Debt http://www.artwoo.com/article/7-tips-on-finding-a-debt-settlement-company-for-your-credit-card-debt http://www.artwoo.com/article/7-tips-on-finding-a-debt-settlement-company-for-your-credit-card-debt#comments Thu, 28 Aug 2008 18:15:28 +0000 debt settlement companiescredit card debtscredit card debt settlementcredit card debtsettlement industrysettlement companydebt info http://www.artwoo.com/article/7-tips-on-finding-a-debt-settlement-company-for-your-credit-card-debt credit card debt, but aren't sure how to how to go about it. There are many out there that specialize in settling , but sometimes it can be difficult to determine if it's legitimate or not.

Some of them are reliable and reputable, others are nothing more than shams and frauds that just want your money. You'll still be sitting with a mountain of debt while they've moved on to their next victim.

One way you can be sure you are getting a good deal is to do negotiate your debt yourself with help from sites like http://www.no-debt.net/debt-info. If you are thinking of going this route, there are some things you need to know before you commit to a debt . Here are 7 tips you should take heed of prior to picking one:

1. Within the debt , there is a trade association called TASC or The Association of Settlement Companies. This association works with its members so that they will be in compliance with the standards and rules of the industry. If the company you want to use is not a member, then find another debt settlement company.

2. You need to know up front what kind of fees the company will charge you. Some of them charge one flat fee. This flat fee is determined as a percentage of your total debt cost. Some of them get this fee each month. They even get it when no settlements have been finalized. The fee should be connected to the result of the settlement and not as a percentage.

3. If you want to know about money back guarantees, they should be at least be good for 30 days. If it isn't then don't accept the agreement. Don't allow the debt settlement collectors to talk you into something less than 30 days.

4. If you ask about commission and they tell you yes--watch out. They might try to railroad you by charging you exorbitant fees. Forget it and move on.

5. When dealing with credit card debt settlement companies, your credit will be affected negatively. If you ask and you're advised otherwise, then that's a red flag to not do business with them.

6. Asking how long it will take to finish the credit card debt settlement is like asking when you will stop growing. No one knows the answer to that, and the collectors don't know the answer about time frames. If they tell you otherwise, they're lying just to get your business.

7. When you ask about your first settlement, they should tell you that it should be done within 12 months. Anything longer than that is a lie and a fraud.

Once you get these questions answered, you should have enough information to determine whether or not you will select them to represent your credit card debt settlement. You can also check with your local consumer division as well as the Better Business Bureau to see if they are legitimate or have numerous complaints against them.

It's better to be informed and educated up front than wait until later to get scammed.Debt settlement can have a positive impact in your life. If your tired of sweet smoke and promises, get the facts about debt settlement at http://www.no-debt.net/debt-info]]> Debt Settlement - Working With Your Creditors To Get Out Of Debt http://www.artwoo.com/article/debt-settlement-working-with-your-creditors-to-get-out-of-debt http://www.artwoo.com/article/debt-settlement-working-with-your-creditors-to-get-out-of-debt#comments Sat, 10 Mar 2007 20:27:05 +0000 people findcontactdebt settlementcreditordebt reorganizationbankruptcydebt problem http://www.artwoo.com/article/debt-settlement-working-with-your-creditors-to-get-out-of-debt people find themselves in debt. When a spouse becomes ill, or unemployed or injured families get behind and sometimes end up in debt. Some people are able to find other funds and get out of debt on their own, but there are others who need assistance. One way a person or family can get themselves out of a severe is by .

Debt settlement commonly occurs in one of two ways. It can be arranged by a or can happen through protective legal action.

If you are in debt and have no way to make the payments and obligations that you have incurred, then one thing you can do is to your creditor and create an agreement to either pay off part of the debt or work out a payment plan over the long term. If, for example, you have a relatively small amount of debt that over time has accrued a lot of interest, there may be certain time when you can work out an agreement with your creditor to pay off only the principal or the principal with a smaller portion of the interest. Creditors will agree to this because they would rather get some of their money than none at all. Another thing you may be able to arrange is a long-term payment plan where you can skip a few payments or go into forbearance for a set period of time in order to get your feet back on the ground and then continue to pay off your debt.

If you find yourself in a bad situation where you just have no way to pay off your debts, you may need to get legal protection. Legal protection normally includes or . Of course this isn't the first or most attractive choice for almost everyone, but for some people it is the only way to get them back on stable ground. That being said, when deciding on bankruptcy or debt settlement, always consult with your lawyer to be sure you have examined all the options first. For more information about creating a family budget visit http://www.ourfamilybudget.com and sign up for our free budget tips newsletter. ]]> Debt Settlement - Working With Your Creditors To Get Out Of Debt http://www.artwoo.com/article/debt-settlement-working-with-your-creditors-to-get-out-of-debt http://www.artwoo.com/article/debt-settlement-working-with-your-creditors-to-get-out-of-debt#comments Mon, 23 Apr 2007 10:05:05 +0000 contactdebt settlementcreditorforbearancedebt reorganizationlegal protectionbankruptcy http://www.artwoo.com/article/debt-settlement-working-with-your-creditors-to-get-out-of-debt debt settlement.

Debt settlement commonly occurs in one of two ways. It can be arranged by a or can happen through protective legal action.

If you are in debt and have no way to make the payments and obligations that you have incurred, then one thing you can do is to your creditor and create an agreement to either pay off part of the debt or work out a payment plan over the long term. If, for example, you have a relatively small amount of debt that over time has accrued a lot of interest, there may be certain time when you can work out an agreement with your creditor to pay off only the principal or the principal with a smaller portion of the interest. Creditors will agree to this because they would rather get some of their money than none at all. Another thing you may be able to arrange is a long-term payment plan where you can skip a few payments or go into for a set period of time in order to get your feet back on the ground and then continue to pay off your debt.

If you find yourself in a bad situation where you just have no way to pay off your debts, you may need to get . Legal protection normally includes or . Of course this isn't the first or most attractive choice for almost everyone, but for some people it is the only way to get them back on stable ground. That being said, when deciding on bankruptcy or debt settlement, always consult with your lawyer to be sure you have examined all the options first. For more information about creating a family budget visit http://www.ourfamilybudget.com and sign up for our free budget tips newsletter. ]]> What Are Structured Settlements? http://www.artwoo.com/article/what-are-structured-settlements http://www.artwoo.com/article/what-are-structured-settlements#comments Sun, 30 Apr 2006 23:50:01 +0000 money rightstructured settlementslump sum paymentdesireadvantageresponsible partytax free http://www.artwoo.com/article/what-are-structured-settlements lump sum payment from the company who will purchase your structured settlement and have the ability to use it for anything they rather it be paying for college, purchasing a new home, paying off debts, investing into the future, anything you desire.

Generally, a structured settlement is the result of a lawsuit, this is an agreement made between you and the that you will accept specified payments from them in a specified period of time, as a result you will release them of any liability named in your lawsuit. There are a variety of payment methods you can choose from such as annual installments that come over several years or in payouts that come every few years. Other types of include winnings from situations where the awards are of a substantial amount such as contests or lotteries.

Structured settlements are tax-free and used to provide financial security over the long term; however, many people choose to sell their settlement in order to gain the away. You have many options when it comes to selling your settlement, you can sell as little or as much as you want and fits your needs and wants. This is an option that many people take of when they have receive a structured settlement of any type. They often like the advantage of having all the monies right away instead of having to wait years and years, which could hinder any plans of purchasing large ticket items such a home. Sometimes the payments will not be large enough to make any sort of significant investment without the need of saving for several years. This is where selling your structured settlement to a reputable company that has a high track record and solid integrity will do some good. Tim Renolds is the owner of http://www.loan-source.co.uk a website providing Uk homeowners with a free loan quote service. Visit us today for a free no obligation quote. ]]> Is Debt Settlement Really The Answer? http://www.artwoo.com/article/is-debt-settlement-really-the-answer http://www.artwoo.com/article/is-debt-settlement-really-the-answer#comments Sat, 15 Mar 2008 13:35:01 +0000 debt settlement programsdebt settlement programsettlement branchprogram clientssettlement companydrowning in debtcredit score http://www.artwoo.com/article/is-debt-settlement-really-the-answer drowning in debt, there are a variety of options to help reduce your debt. One option is debt settlement. The philosophy behind debt settlement is to reduce your overall debt so that you can actually pay off your debt a lot faster.

The job of a debt is to negotiate your debt with your creditors. The company helps to lowers the amount of debt you currently owe. In many instances, this is done by creditors agreeing to either reduce or remove the interest rate currently being paid. If there are late fee on your account, they will also remove those. In most instances, creditors are willing to go this route, versus going to court to try and recoup their money. They realize it will generally cost them more money, as well as time to go through the court system.

In most instances, s will be in place for 2-5 years, depending on the amount of debt you owe. The time is also dependent on the client's ability to make their monthly payments. If they are able to pay more each month, then your debt will be paid off quicker.

When enrolling in a debt settlement program, clients are taught how to avoid this type of situation in the future. After you are enrolled in a settlement program, you are solely responsible for making the agreed upon monthly payments.

When you enroll in a debt settlement program, it is important that you realize your will drop. However, over time it will eventually get better as you pay off your debt. In reality, this is a small price to pay, if you are able to avoid harassing phone calls each day, as well as being able to avoid bankruptcy.

When looking for a debt , it is important that you choose a legitimate one to work with. There are a variety of different branches out there. However, not all of them work the same. Therefore, it is important that you do your homework and check around with several different companies before picking on. You can ask family and friends for advice or check with the Better Business Bureau.

In many instances a debt settlement lawyer is needed if people have more than $25,000 in unsecured or credit card debts. Working with a lawyer is beneficial because he knows the law and your rights. Therefore, he can then work harder to get you an appropriate debt settlement agreement. If you are to the point of bankruptcy, then a debt settlement lawyer is definitely a wise choice to help you with your financial situation.

Although debt settlement may not be the ideal route to take, for many people it will help them avoid bankruptcy. While your credit rating will drop in the beginning, over time it will come back up as you pay off your debt. Before jumping into a debt settlement program, be sure to do your homework, so you know exactly what to expect. Discover how to avoid bankruptcy or debt settlement and stop being a slave to your creditors! Live a life free of debt, TJ Nelson provides the resources that crack the code to living debt free Visit: http://debtfreeiq.com/. ]]> Is Debt Settlement The Right Choice For You? http://www.artwoo.com/article/is-debt-settlement-the-right-choice-for-you http://www.artwoo.com/article/is-debt-settlement-the-right-choice-for-you#comments Fri, 26 Jan 2007 02:27:04 +0000 debt settlementpredicamentlump sum paymentcreditorsnull and voidcredit scorebecome debt free http://www.artwoo.com/article/is-debt-settlement-the-right-choice-for-you debt settlement, but your diligence in finding a solution to your financial has led you to believe that debt settlement may be a viable option.

There are a few considerations, however, that need to be factored into your final decision regarding debt settlement, and probably the most critical of these is the availability of sufficient funds to follow through with the agreed-upon settlements with your . You see, if it's simply not realistic that you'll be able to fund the negotiated settlements with your creditors, your choice has already been made for you, and debt settlement is not the solution for you.

When negotiations have been ongoing and a mutually agreeable settlement has finally been reached, you're expected to release funds to the creditor with whom you reached an agreement. Some creditors will accept the settlement amount over several months, while others will insist on one . Either way, if you default on the negotiated settlement agreement with your creditor, the settlement becomes , and you're expected to pay the entire debt in full.

If you believe funding will not be an obstacle, then debt settlement can be an excellent solution to your financial crisis. While your may be reduced for a short period of time (if it's not already), it will improve a great deal once your accounts are updated to reflect a zero balance. Also, many people have concerns regarding the possibility of a tax liability as a result of debt settlement. To get a clearer picture regarding debt settlement and taxes, visit http://donaldsonwilliams.com/Debt_Settlement_And_Income_Taxes.html

Finally, let's take a look at your final decision because reaching that decision is simply not that easy. As a matter of fact, it's downright frightening, and something most people are hesitant to think about. No matter what choice you make regarding the best resolution for putting your financial problems behind you, it's new territory, and the thought of losing your credit privileges, whether through bankruptcy, debt settlement or consumer credit counseling, is not something any of us really want to face. I can say with a great deal of confidence, however, that once you've decided which option is best for you, you'll finally feel a sense of relief. I would encourage you to not procrastinate; procrastination simply leads to several more months of struggling to pay your bills. Think long-term and you'll realize that in a few short years (very possibly months), you'll be debt-free, your credit score will be restored and you can hold your head high knowing that you faced an extremely difficult situation and made it through just fine -- and very likely accumulated a great deal of knowledge in the process. Marie Megge is a consultant in the credit services industry. Over the past several years she has assisted many individuals in resolving their debt-related matters. For more information regarding credit and debt visit http://www.donaldsonwilliams.com ]]> Settling Workers' Compensation Claims in Pennsylvania http://www.artwoo.com/article/settling-workers-compensation-claims-in-pennsylvania http://www.artwoo.com/article/settling-workers-compensation-claims-in-pennsylvania#comments Mon, 29 Sep 2008 04:57:23 +0000 personal injury settlementsworkers compensation actlump sum settlementcompensation judgepennsylvania legislaturerelease agreementslegal significance http://www.artwoo.com/article/settling-workers-compensation-claims-in-pennsylvania Pennsylvania legislature amended the Workers' Compensation Act to allow injured workers and their employers and insurance companies to settle claims. As a result, injured workers can resolve all or any portion of a claim through a -- called a "Compromise and Release."

Under a "Compromise and Release," which is also referred to as a "CandR," injured workers, insurance companies and employers are able to settle an entire claim, only the wage loss portion of a claim, only the medical expense portion of a claim, or any other aspect of a claim the about which the parties agree. Basically, as long as the settlement is approved by the judge, the terms are up to the parties.

Once the parties have agreed to the terms of the settlement, they will enter into a Compromise and Release Agreement, which is a settlement agreement that specifically states the terms of the settlement, that is, it specifies what is being settled and what is not being settled. Unlike with most , Pennsylvania law requires the parties to present Compromise and to a Workers' , who must hold a hearing and decide whether the claimant (the injured worker) understands the of the settlement, is entering into the agreement voluntarily, and has not been promised anything other than what is contained in the agreement.

Importantly, the Workers' Compensation Judge does not determine whether the settlement is fair and does not determine whether the settlement is in the best interests of the injured worker. Rather, the Judge is required and can only decide whether the injured worker understands the legal significance of the agreement and its effect upon future benefits, if any.

A court stenographer is present at the CandR hearing, at which the claimant must attend, as will the claimant's attorney and an attorney for the employer/insurance company. In some cases, the Workers' Compensation Judge will allow the claimant to testify by phone, but only if there is a compelling reason to do so.

The Judge will first review the Compromise and Release, which must be signed by the claimant and witnessed by two people. Alternatively, the claimant's signature may be notarized before the hearing takes place and must be notarized if the claimant will be testifying by phone. The Judge will then listen to the testimony and decide if the claimant understands the term of the CandR Agreement and is entering into the agreement voluntarily. After the hearing is over, the Judge issues an Order and a written decision approving the Compromise and Release.

There are a few things to know about CandRs. First, they are not always in a worker's best interest. That is why it may be helpful to have a lawyer. Second, once a CandR is approved, it is final, the worker cannot go back and reopen the settled portion of the case except in very unusual and very rare circumstances. Third, there are other relevant issues that should be considered, including the impact on Social Security and pension benefits, the impact on Medicare benefits, child support orders, and numerous other areas.

Insurance companies like to settle workers' compensation cases when a claimant does not have a lawyer. They can often settle for "cheap" and can hope that they can avoid dealing with some of the issues mentioned above.

In sum, CandRs can be very helpful, but there are pitfalls that must be avoided.Philadelphia workers compensation attorney Jack B. Katz, who has been representing injured workers for more than two decades. Jack Katz concentrates his practice in workers compensation matters. His office is located at 1213 Vine Street Philadelphia, PA 19107. Email Attorney Jack B. Katz or Visit Attorney Jack B. Katz' website.]]> Injured In Boston? You May Need An Attorney http://www.artwoo.com/article/injured-in-boston-you-may-need-an-attorney http://www.artwoo.com/article/injured-in-boston-you-may-need-an-attorney#comments Sat, 27 Jan 2007 00:27:08 +0000 personal injury casepersonal injury lawyerpersonal injury attorneypersonal injury lawboston areainformal settlementbasically http://www.artwoo.com/article/injured-in-boston-you-may-need-an-attorney Boston area? If so then you may need a Boston . Accidents and mishaps are simply part of life, but still there is frequently someone legally responsible and the injured should be recompensed for the injury. Few individuals truly understand what a yer can do for them. Because of this it is important to understand about personal injury law and know when you might need a Boston personal injury attorney.

What is a ?

A personal injury case is based on a dispute between an injured individual and the person or entity being blamed for the injury. The reason these cases go to court is to find out whether there is someone legally responsible for the injury other than the injured. Many times these cases are settled out of court with an . Sometimes a formal lawsuit is filed.

Informal Settlements

An informal settlement for personal injury generally includes the insurance companies, lawyers representing both sides, as well as those who are personally vested in the case. Generally nobody wants to go to court and the informal settlement is the best way to solve the problem. , an informal settlement is handled like a negotiation. Both sides discuss what they want and what they are willing to settle for. Then, an agreement is reached and signed by both sides. The agreement also includes that the case has been settled monetarily and no further action will be taken by either party.

Formal Lawsuits

Then there is the formal lawsuit. This occurs when an individual is injured and believes a person, business, or other entity is at fault and files a civil complaint. Filing the complaint is basically filing a lawsuit against the alleged responsible person or entity. It is then the injured individual's responsibility to prove fault in order to win the case.

So, if you are in the Boston area and have been hurt on the job, in an accident, or in some other way due to another person or entity's negligence then you need a Boston personal injury attorney. The lawyer will represent your best interest in the case and help you get a monetary settlement for your injury. If you have been injured a Boston personal injury attorney can really help you. Don't let too much time pass, instead contact a lawyer today to see if your case has any merit and if you could possibly receive a monetary settlement for your suffering. John Smith recommends http://www.joelhschwartz.com Joel H. Schwartz, P.C. , one of the most respected names in personal injury law today. Contact Joel H. Schwartz, P.C. today! ]]> Debt Settlement Tips From The Pros http://www.artwoo.com/article/debt-settlement-tips-from-the-pros http://www.artwoo.com/article/debt-settlement-tips-from-the-pros#comments Tue, 29 Aug 2006 14:27:19 +0000 debt settlementchapter 13 bankruptcydebt consolidation creditbetter business bureaubbbhttpdebt negotiation http://www.artwoo.com/article/debt-settlement-tips-from-the-pros debt settlement or . This page has a running commentary on debt settlement tips.

Use the

Always check with the and with your State Attorneys Office of Consumer protection about the standings of the debt settlement company you are about to deal with. You will know if the company has misled individuals in the past and whether or not their services have impacted the consumer credit report.

Settlement and Chapter 13

Debt settlement is different from . Debt settlement records are not public whereas Chapter 13 records are public. Additionally, with Debt Settlement, there are no records in the court about settling your debts.

A little haggling can go a long way

Be ready to haggle with your creditors over the phone. Offer to pay less money than your goal. Some accounts have been known to settle as much as 50% lower than the pay off amount. If done right, this is an easy process to settle your debts. A honest and fair talk on not being able to pay and seek advise from some friends who have undergone debt settlement will work in your favour.

The above three tips can go a long way in helping you get the most out of your debt settlement company. Always proceed with caution and as far as possible, request referrals from friends, family or co-workers. Always proceed with caution since there are many known sharks in the debt consolidation industry who might run over night with your money. Always aim to work with the best in the debt settlement industry. This will give you the peace of mind you have been looking for. Also interview the company who will be providing you with debt settlement services and get a feel for what they offer. Visit our website to learn more about the debt consolidation, credit counseling and debt management services we offer. Need more tips and free information? Visit http://www.americreditservices.com/ http://www.americreditservices.com/debt/debt-consolidation/bad-credit-debt-consolidation.htm http://www.americreditservices.com/debt/debt-consolidation/reliable-debt-settlement-companies.htm ]]> Debt Settlement - The Best Bankruptcy Alternative? http://www.artwoo.com/article/debt-settlement-the-best-bankruptcy-alternative http://www.artwoo.com/article/debt-settlement-the-best-bankruptcy-alternative#comments Thu, 16 Aug 2007 19:29:59 +0000 debt settlement companiesbankruptcy lawsdebt negotiationno doubtsettlement companydebtorsfinancial crises http://www.artwoo.com/article/debt-settlement-the-best-bankruptcy-alternative settlement company can get the total balance you owe down to about 50 percent, sometimes even less. For most people facing , that is exactly the break they need.

Today, more then ever need a break from debt. The two most common methods are bankruptcy and debt settlement. Most people already know bankruptcy is the last possible resort you want to do, which leaves debt settlement.

The question is; does debt settlement actually work?

Without a doubt yes, settlement sometimes referred to as does work. The bigger question should be, is it right for you? Before we get into evaluating whether or not it's right for you, let's make sure you understand the process.

Debt settlement has swelled dramatically in it's popularity for debtors looking to resolve their debt situation. This has increasingly being the case since the were changed in 2005 making it much harder for consumers to take that option.

For example; if you're currently struggling on your debts, you're getting hammered with creditor phone calls. will also deflect most of that as well by dealing with your creditors on your behalf. Furthermore, if you're $90,000 in debt and making payments of about $1500.00 per month, that may be reduced to about $90,000 and 700.00 per month.

So, let's take a look at the downside of debt settlement and see if it's right for you. We already know it will relieve you of a major portion of your debt but it has its drawbacks.

Two of the drawbacks are costs of the program and damage to your credit report. The average debt settlement company will charge 15 percent or more of the total debt in fees. Their services are invaluable to most people and worth a fee. Keep in mind that generally the more they charge you the more they should be saving you.

Another drawback to debt settlement is the damage to your credit report. While you are in debt settlement, your credit is going to take a beating and don't let anybody tell you otherwise. Chances are if you're considering debt settlement or bankruptcy, your credit is already taking that beating, but if you've managed to keep your credit intact to this point and know you may want to buy a home in the next year, then debt settlement may not be the right choice for you.

After you're finished with settlement then with a focused plan you can be good as new in 6 to 12 months. While there is no replacement for good judgment and making your payments on time, debt settlement has helped hundreds of thousands of debtors get back on their feet. You just have to know if it's the correct solution for you. As someone who has helped people for many years to resolve their debt issues Matthew Taylor enjoys providing more useful and pertinent tips at http://www.easysimpledebtsettlement.com ]]> How To Find A Legitimate Debt Settlement Company http://www.artwoo.com/article/how-to-find-a-legitimate-debt-settlement-company http://www.artwoo.com/article/how-to-find-a-legitimate-debt-settlement-company#comments Mon, 08 Jan 2007 16:27:08 +0000 debt settlementcredit bureausfiling for bankruptcydebt management plancreditordebt is settledunsecured debt http://www.artwoo.com/article/how-to-find-a-legitimate-debt-settlement-company filing for bankruptcy protection or go on a that you consider contacting a company first.

What is debt settlement? Debt settlement is a way of negotiating and reducing the amount of debt you have with each . A debt settlement company can negotiate with your creditors on your behalf and get them agree to a lesser amount.

In addition to negotiating the amount owed to each creditor, a debt settlement company will also send them the payment for you, take care of all the paperwork and agreements reached with each company and also negotiate with how the settlement of your debt will be reported to the .

You may wonder why companies would agree to lowering the amount that you owe them. In most cases companies realize that if you are not paying back the that you owe them, unless they can come to some terms to help you pay it back they will likely end up getting nothing. So when you look at it from their perspective, something is definitely better than nothing, even if it is less than they were originally owed.

Using a debt settlement company can be an excellent way to recover your financial freedom and repair your credit rating. The best thing about using the debt settlement process is that after the debt has been paid, you owe nothing at all. The and you are debt free.

So now that you know what a debt settlement company is, and what it is that they do, the next question is how do you find a good, reputable debt settlement company?

In order to find a reliable debt settlement company you will have to do a little research. You can start by looking in the usual places -- online in search pages and in the phone book. When looking for them keep in mind the following criteria and see if you can get these answers: How long have they been in business? Are they registered with the Better Business Bureau?

If so, how is their rating with them? Do they have references that you can check up on? It is extremely important that you entrust your financial future to a reputable company, and the more you know about them the better able you are to make an informed decision. Sam Nikward is writing predominantly for http://www.creditenio.com , an internet site with information about debt consolidate and bill consolidation. You can come across his publications over at http://www.creditenio.com/baddebt.html and different sources for bad debt consolidation information. ]]> Debt Settlement Facts http://www.artwoo.com/article/debt-settlement-facts http://www.artwoo.com/article/debt-settlement-facts#comments Wed, 25 Apr 2007 12:15:01 +0000 credit scoredebt settlementirsbecome debt freedelinquentcreditorsdebt negotiation http://www.artwoo.com/article/debt-settlement-facts
If you're dealing with circumstances very similar to these, chances are you've looked into , but still have some doubts regarding whether or not debt settlement is the path you should choose to become debt-free. Below are some facts regarding the process of debt settlement to assist you in making a decision about your financial predicament.

=95 Debt Settlement () Defined. Debt settlement is a process whereby agree to accept less than the full balance owed them as payment in full. In other words, if you owe your creditor $10,000, there's a good possibility that you can settle your account for anywhere between $3,000 and $5,000, with no further balance owed.

=95 Your May be Affected. While debt settlement doesn't contribute to a lower credit score, delinquency does. Unfortunately, your creditors won't consider offering or accepting a settlement agreement on your accounts until after the accounts have fallen into a status. Most people considering debt settlement are already delinquent, and their credit score will improve significantly after a zero balance is reflected on their credit report. Those who are not delinquent, however, will likely see their credit score decline before it improves. For most people, however, a decent credit score is less important than financial freedom and peace of mind.

=95 You May End Up With a Tax Liability. Creditors are required by the to report canceled debts over $600, and you would also be required to report the amount of your forgiven debt as income, unless you were insolvent during the time which you settled your various accounts. In order to be classified as insolvent, your assets may not exceed your liabilities, which may be highly probable if you're buried deep in debt.

=95 Debt Settlement Can Take Several Months to Complete. Depending on the amount of money you owe, the stage of delinquency what your accounts are and your ability to accumulate sufficient funds for settlement, this process can take anywhere from 30 days to 30 months.

=95 Not All Debt Is Negotiable. Only unsecured debt may be negotiated. This includes credit cards, medical bills, personal loans, department store credit cards and gas cards.

Fortunately, the process of debt settlement has helped many individuals and businesses avoid bankruptcy. If you're at the end of your rope and you simply don't see yourself ever digging your way out of debt, debt settlement is certainly a viable option, and one you should consider. While it's important to understand this process and all that it entails, it's equally important to realize that you could very likely be strapped with debt and unaffordable payments for many years to come, so debt settlement is definitely something worth looking into. Marie Megge is a consultant in the credit services industry. Over the past several years she has assisted many individuals in resolving their debt-related matters. For more information regarding credit and debt visit http://www.donaldsonwilliams.com ]]> Real Credit Card Debt Settlement Tips http://www.artwoo.com/article/real-credit-card-debt-settlement-tips http://www.artwoo.com/article/real-credit-card-debt-settlement-tips#comments Wed, 13 Aug 2008 06:15:29 +0000 credit card debt settlementcredit card billschapter 13 bankruptcycredit card debtworkable budgetbankruptcy filingcredit users http://www.artwoo.com/article/real-credit-card-debt-settlement-tips settlement is a likely option to get out of the outstanding debt. If for some valid unavoidable reason, such as losing a job or undergoing a costly medical emergency and you will not likely be able to fulfill your credit card obligations on time and in full for the immediate foreseeable future, getting into credit card debt settlement is one way to stop interest charges and penalties from further escalating your debt.

When you become late on your credit card bill payments or have stopped payments altogether due to circumstances beyond your control, high interest charges are not the only thing that would compound your credit problems. An entire truckload of penalties, surcharges and fees will put you in more debt fast. That is why it is advised that prior to reaching the point of availing credit card debt settlement plans, must first buckle down and iron out a to allow them to continue payments on their and to steer clear of defaulting to a deeper credit quagmire.

As such, before you jump into a credit card debt settlement, realize first that it is a last resort to work out an amicable resolution to your debt before a completely damaging Chapter 7 or filing would be needed. Most creditors would favor a credit card debt settlement more than a bankruptcy for the obvious reason that they would in all probability receive less monies with through credit card debt settlement. Nevertheless, understanding some basic credit card debt settlement tips will help you in making a proper determination of whether it is the appropriate debt relief for your needs and may even save you from actually getting into a very delicate credit card debt settlement.

Get Credit Counseling First

This is an important first step for anyone facing a credit card problem. It should never be taken lightly and neither should it be dismissed or ignored. An early credit counseling intervention can provide you with viable alternatives to credit card debt settlement.

The significance of credit counseling comes with being able to come up with a real and feasible budget to allow you to pay off your credit card debts effectively and gain valuable insight into managing your personal finances properly. The key to getting out of debt -- and for that matter, remaining out of debt once you've paid it all off -- is simply financial discipline. Credit counseling can help address just that.

Avoid Availing of New Loans or Credit

Sadly, many people who are already in debt opt to seek new loans to pay off the outstanding account. It would seem like a simple solution and a good idea, but only for an alternative world without compounding interest rates and with a generous sprinkling of luck for all. In reality however, paying other people off with yet other people's money is a very bad idea. You might end up replacing a small load of rocks with a bigger boulder as you are going uphill. The thought of slipping, in this sense with your payments, is not a pretty picture.

Choose Your Debt Settlement Representative Well

Lastly, seeking the appropriate credit card debt settlement company should not be left to chance. Don't listen to hype. Don't go for "sure-fire" claims that require outrageous fees up front. Examine all details of the credit card debt settlement program and make sure it fits your needs. Make sure that the credit card debt settlement agreement is well-documented, affordable, humane and most importantly pre-approved by your creditors.Credit card debt settlement may be the solution to your mounting debt. You can find out more, and get a free ecourse to help you get out of debt and get on with your life at Credit Card Debt Settlement or http://no-debt.net/debt-info/credit-card-debt-settlement]]> Can You Get a Lemon Law Settlement Without Filing a Lawsuit? http://www.artwoo.com/article/can-you-get-a-lemon-law-settlement-without-filing-a-lawsuit http://www.artwoo.com/article/can-you-get-a-lemon-law-settlement-without-filing-a-lawsuit#comments Fri, 05 Sep 2008 02:22:28 +0000 lemon car caseslitigation settlementlitigation settlementslitigation casecontingency basislitigation departmentlitigation cases http://www.artwoo.com/article/can-you-get-a-lemon-law-settlement-without-filing-a-lawsuit litigation department of Brennan, Wiener and Associates, APC. She has successfully settled numerous without the necessity of filing a lawsuit. Below she offers some pointers to readers who may need assistance, to get them headed in the right direction. Sidebar is the consumer rights and consumer protection newsletter published by Brennan, Wiener and Associates, which conducted this interview.

Sidebar: Is it possible for consumers to get their rights taken care of under the Lemon Law without having to file a lawsuit?

JR: Yes it is, and it doesn't have to take forever. I see successful pre-s happening every week at our office.

Sidebar: What does pre-litigation mean? Can a consumer get Brennan, Wiener and Associates to take a pre- on contingency? What is a pre-litigation settlement? What are the advantages to signing up on a pre-litigation basis?

JR: Pre-litigation means that you try to reach an agreement with the manufacturer or dealer without having to file a lawsuit. At Brennan, Wiener and Associates, we handle all of our pre- on a . A pre-litigation settlement is an agreement between you and the manufacturer or dealer in which you will be compensated for your damages in return for a release of all claims. Once a pre-litigation settlement has been reached, a document is drafted which spells out the terms of the agreement.

Some advantages of signing up pre-litigation are 1) that you might get a settlement much sooner; 2) you might be able to avoid the hassles of litigation; and 3) if you have a strong case and the other side refuses to come to an agreement with you, then we might be able to initiate a lawsuit and show that you tried to work out an agreement with the other side without having to litigate.

Sidebar: What do you recommend consumers do when they have repeated problems with their vehicles, but the manufacturers don't seem to care or listen?

JR: Call our office and provide us with the basic information about your situation. Make sure you get all of your repair orders together. If you purchased a used car that is still under the manufacturer's warranty, make sure you get a warranty repair history from the dealer's service department. Continue making your monthly payments. If the car is not safe to drive, park it. Stay in communication with our office for any updates and to answer any questions. I will need the finance information in order to draft a demand letter. We review all of our cases free of charge and always advise the clients if we think we can help them.

Sidebar: What step should a consumer first take who wants to sign up with your law firm and try to get a pre-litigation settlement?

JR: Send all your documents to our office so that we can review them.

Sidebar: What can a consumer expect to get from a pre-litigation settlement?

JR: We would typically ask for reimbursement of the down payment, the total monthly payments you have made to date, loan pay-off, registration fees, rental expenses, and other incidental expenses that may apply in your case, as well as attorney fees. The other side may offer all or part of the above, in which case we would need to discuss with you how to proceed. We would typically negotiate with the other side in an attempt to reach an agreeable settlement. We cannot promise anything, as it is ultimately up to the manufacturer or dealer as to whether or not they will reimburse you, pre-litigation, for your losses. However, we do have many satisfied clients who wind up getting all, or close to all, of what they were entitled to.

Sidebar: What if the other side agrees to repurchase the Lemon vehicle? What happens next?

JR: At that point we would have to schedule a vehicle turn-in, usually done at the dealership where you purchased the vehicle. Before you turn in the vehicle, make sure it doesn't have any damage beyond normal wear and tear. If it does, you need to have it repaired or the manufacturer will deduct the cost of repair from your settlement amount. It is also advised that you get your car washed and take your personal belongings out of the car ahead of time. Make sure you bring both sets of keys and the owner's manual to the turn-in. At the turn in you will need to sign some documents transferring ownership over to the other party.Robert F. Brennan, Esq. is a principal with Brennan, Wiener and Associates, an AV-rated law firm in La Crescenta, CA.  His firm specializes in consumer protection litigation, including car dealer fraud, lemon law and consumer class actions.  He can be reached through his website: http://socallemonlaw.com]]> Divorce: How To Beat The System http://www.artwoo.com/article/divorce-how-to-beat-the-system http://www.artwoo.com/article/divorce-how-to-beat-the-system#comments Mon, 27 Aug 2007 19:25:00 +0000 legal divorceretainer agreementconflictbetter solutionsadversariallow impactkey word http://www.artwoo.com/article/divorce-how-to-beat-the-system legal divorce =97 but you don't want to go through the legal system to get it. You don't want to get all tangled up with lawyers and courts, because the system is designed to work against you.

Instead of going through the legal system, you go around it, and work outside the legal system to make arrangements and reach an agreement with your spouse. By doing things yourself, you have far more control and far . Working outside the legal system is the way you get a low-, low-impact, higher quality divorce.

To stay outside the legal system, neither spouse should retain an attorney. The is "retain." I'm not saying you should never get help from an attorney if you want it, just that you shouldn't retain an attorney unless you have no other choice. If you follow the steps in my book, Divorce Solutions: How to Make Any Divorce Better, you may not need any help at all from an attorney. If you do, you'll know how to keep it limited and under control.

Retaining an attorney means turning over both your responsibility for your case and control of it. The attorney represents you. You sign a , then you pay $1,000 to $5,000 "on retainer" and your attorney has now taken over control of your case. This is what they mean when they say, "I'll take your case." And they do take your case =97 right into the high-conflict, low-solution legal system. They have to; it's the law.

Because you don't want to go into a system that works so hard against you, you must not retain an attorney unless you have no other choice, as when you are facing immediate threat of harm.

You need an attorney if you:

* Believe your spouse poses a danger to you, your children or your property; * Can't get support from your spouse and have no way to live; * Think your spouse is transferring, selling or hiding assets.

In such cases, you should get a good attorney right away; otherwise, you only want an attorney for information, advice and maybe some drafting and paperwork. The attorney retainer is the poison apple =97 don't bite it. If you feel uneasy about not retaining an attorney, don't worry; in Divorce Solutions: How to Make Any Divorce Better I reveal very effective things you can do for yourself and how to get help if you need it.

There are three different kinds of cases that respond to self-help techniques:

* No agreement between the spouses is needed; * An agreement will be fairly easy to work out; * An agreement is needed but it may not be easy to work one out.

No agreement needed or spouse not involved. An agreement isn't necessary or is not possible if there are no children, very little property, few debts to worry about, or no need for support=97in short, nothing to agree to. There are also cases where the Respondent simply will not participate and will not file a Response because he or she is either long gone or simply doesn't care. This case will be relatively easy to complete.

Agreement needed. If you have children, you should work out a good parenting plan in a written agreement. If you have income or property worth protecting, or lots of debts to be paid, or if you need to work out spousal or child support arrangements, you should definitely have a written agreement. If Respondent is involved and cares how the divorce is going to be arranged, you should have an agreement.

Agreement will be easy to work out. If you think it will be no problem for you and your spouse to work out an agreement, the rest of this article is about the many advantages of a good agreement.

Agreement may not come easily. This describes the situation for most couples going through divorce. If you don't think you can deal with your spouse, don't worry=97you can learn how to deal with disagreement and negotiate a settlement in Divorce Solutions: How to Make Any Divorce Better, and where to get help if you have trouble with the negotiations.

Advantages to an agreement

The marital settlement agreement (MSA) is your key to avoiding lawyers and the legal system, but that's not all=97it has many other important advantages. Your MSA actually becomes your Judgment, which means you get to decide all the terms ahead of time. Without an agreement, you can't be sure exactly what some judge might do. The MSA has far more depth, detail, flexibility and protection than a plain Judgment. Almost anything that's on your mind or in your lives can be included and resolved any way you like.

Some states, like California, have simplified procedures that allow you to get your divorce without going to court=97if you have an agreement. Without an agreement, you almost certainly will have to go to a hearing to get your Judgment. But what's most important is that you get a better divorce outcome when you work out an agreement. And with an agreement, people tend to heal faster and it just plain feels better.

If you have trouble reaching agreement, you can learn about the obstacles to agreement and how to overcome them, plus learn the secrets of negotiating agreement, including ten ways to divide property without a fight, in Divorce Solutions: How to Make Any Divorce Better. The agreement you negotiate is very valuable and worth working very hard to get. If you work it out with your spouse outside the system, you beat the system! Ed Sherman is a divorce specialist attorney and award-winning author of How to Do Your Own Divorce in California. His books and software have saved millions of people billions of dollars in unnecessary attorney fees. Visit http://www.nolotech.com/ ]]> Debt Settlement - The Truth http://www.artwoo.com/article/debt-settlement-the-truth http://www.artwoo.com/article/debt-settlement-the-truth#comments Thu, 02 Aug 2007 19:30:01 +0000 debt settlement companiesfaced with suchfaced with mountingbecome debt freecredit accountscredit reportingcredit score http://www.artwoo.com/article/debt-settlement-the-truth faced with mounting debt and not nearly enough income to meet their monthly financial obligations. Obviously, those individuals challenges have no choice but to find the best solution to become debt-free, and put their money worries behind them. Many find their search leading to alternatives such debt settlement, which has been growing in popularity in recent years.

Unfortunately, there happens to be a great deal of untruths to be found, regarding the process of debt settlement, and if you're considering this route it's important to be well-informed and aware of the facts. One example of false information I recently came across regarding debt settlement is an article whose author claims that once you pay your agreed settlements in full you'll have a "good credit rating." The author should have gone on to explain that, yes - your will increase, but only after your accounts are reflecting zero balances on your credit report. This process of is not instantaneous, but rather can take several months. While I'm a supporter of debt settlement for individuals who may be instead looking at a bankruptcy filing, I also think it's important to be well informed of the facts before reaching a final decision regarding the best way to resolve your .

Additionally, I recently encountered some information regarding debt settlement that happens to be a complete fabrication. The author of a recently published article claims that convince your creditors to "re-age" your accounts so that they appear current. This information is simply not true, nor has it ever been true; as a matter of fact the author of this article is either a liar or someone who shouldn't be writing about a topic with which they're not completely familiar and informed. It is the job of debt settlement firms to simply negotiate with your creditors to settle your accounts for less than the full balance (usually 50% or less). There's no logic in re-aging your accounts (nor will creditors agree to do so) during the process of debt settlement.

I'm sure you've heard or read about some of the consequences of debt settlement, such as possible tax liabilities and a potential for a decreased credit score. Both of these are indeed plausible concerns if you're considering debt settlement. If you'd like to learn more about income taxes as a result of debt settlement click here. If you want to learn more about the possibility of a temporarily decreased credit score as a result of debt settlement, click here.

It's time to put your money concerns behind you, but it's equally important to conduct sufficient research so you'll be well-informed before attempting to follow a course of action with which you're not familiar. There are many debt settlement companies that don't require large up-front fees, or even that you make monthly payments to a trust account. These same reputable companies will agree to work for you on a contingency basis, allowing you to pay for services rendered only after a satisfactory agreement has been reached with your creditor. Before hiring a company be certain to interview many firms, and please beware of companies whose representatives appear to be more interested in collecting your money than legitimately assisting you to resolve your current predicament and overcome your financial hardship. Marie Megge is a consultant in the credit services industry. Over the past several years she has assisted many individuals in resolving their debt-related matters. For more information regarding credit and debt visit http://www.donaldsonwilliams.com ]]> How To Use Debt Settlement Companies For Credit Consolidation http://www.artwoo.com/article/how-to-use-debt-settlement-companies-for-credit-consolidation http://www.artwoo.com/article/how-to-use-debt-settlement-companies-for-credit-consolidation#comments Fri, 26 Jan 2007 00:27:06 +0000 debt settlement companiescreditorsdebt balancelegitimate debttrust accounttrust fundprofessional act http://www.artwoo.com/article/how-to-use-debt-settlement-companies-for-credit-consolidation professional act on your behalf with your to help reduce your . There are who claim to be able to reduce your debt by as much as 75%. You will make your search for debt settlement companies easier once you understand what they are and what they do. If you know what to look for, your search will be easier, and you will find a good, reputable debt settlement company, not a scam.

You can use the following ideas to eliminate the companies you do not want to work with. First of all, make sure you understand that debt settlement companies are for you if your debt is getting out of hand and you may be heading towards bankruptcy. Debt settlement is not just an easy way out from under your bills so you can just incur more debt.



Most debt settlement companies charge a fee to perform these services for you. This will include a fee to set up the program, and then a fee to maintain your payment schedule. The principal behind a debt settlement company is that they collect money from you and set up a . While funds are accumulating in this account the company will negotiate with your creditors. They will usually start with the loan or debt with the worst terms and then they start to disabuse funds out of this account to settle this debt. Then they move on to the next one, etc. They will charge you a settlement fee on any funds they are able to save you, a percentage of those savings.

During the period you are funding the , your debts will be accumulating late fees and interest charges, so the overall balance on the debt will increase. A settlement company will charge you on the original balance, not the balance after all of these charges. You should not deal with a company that wants to charge you on the higher balance after these fees.

In your search for a debt settlement company, you should try to find one that will offer you a personal credit counselor who will be able to advise you and then give you ideas about staying out of debt in the future. You can probably get an initial consultation for free, to decide if you want to work with a debt settlement company. Usually the most honest and reliable companies are the ones who will offer this free consultation, since they have nothing to hide and will only earn their fees once they start working with you. Peter J. Wilson very often produces online reports on things related to credit consolidation and personal finance. His writings on how to negotiate debt settlement are found on http://www.debtania.com/negotiatesettlement.html in addition to other web pages. ]]> Beware Of Misinformation When Considering Debt Settlement http://www.artwoo.com/article/beware-of-misinformation-when-considering-debt-settlement http://www.artwoo.com/article/beware-of-misinformation-when-considering-debt-settlement#comments Mon, 29 Jan 2007 00:27:09 +0000 debt settlement companiespeople findcredit scorebecome debt freecreditorscredit accountsmoney worries http://www.artwoo.com/article/beware-of-misinformation-when-considering-debt-settlement people find themselves in a situation where they're faced with mounting debt and not nearly enough income to meet their monthly financial obligations. Obviously, those individuals faced with financial difficulties have no choice but to find the best solution to become debt-free, and put their behind them. Many find their search leading to debt settlement, which has been growing in popularity in recent years.

Unfortunately, there happens to be a good deal of misinformation floating around, regarding the process of debt settlement, and if you're considering this route it's important to be well-informed. For instance, I recently read an article whose author claims that once you pay your agreed settlements in full you'll have a "good credit rating." The author should have gone on to explain that, yes; your will improve, but only after your accounts are reflecting zero balances on your credit report. This process is not instantaneous, and can take several months. While I'm a supporter of debt settlement for individuals who are on the brink of bankruptcy, I also think it's important to know the facts before you make your final decision regarding the best way to resolve your .

I also recently came across some information that happens to be a complete fabrication. One author claims that convince your to "re-age" your accounts so that they appear current. This is simply not true, nor has it ever been true. Debt settlement companies simply negotiate with your creditors to settle your accounts for less than the full balance -- usually 50% or less. There's no need to re-age the account (nor will creditors agree to do so) during the process of debt settlement.

I'm sure you've heard the consequences relating to debt settlement, such as a possible tax liability, as well as a decreased credit score. Both of these are indeed possibilities, and you can learn more about income taxes as a result of debt settlement by visitng http://donaldsonwilliams.com/Debt_Settlement_And_Income_Taxes.html. If you want to learn more about what affects debt settlement will have on your credit score, visit http://donaldsonwilliams.com/Debt_Settlement_and_Your_Credit_Score.html

So that you can breathe a sigh of relief, it's important to conduct sufficient research so you'll be well-informed before jumping into a program with which you're not familiar. There are several debt settlement companies that don't require large up-front fees, or even require that you make monthly payments to a trust account. These same companies will work on a contingency basis, meaning you don't pay for services rendered until a satisfactory agreement has been reached with your creditor. Beware of companies who seem to be more interested in collecting your money than legitimately helping you to resolve your finances and overcome your financial hardship. Marie Megge is a consultant in the credit services industry. Over the past several years she has assisted many individuals in resolving their debt-related matters. For more information regarding credit and debt visit http://www.donaldsonwilliams.com ]]>