A Debt Reduction Plan is you making a deal with the creditors (it can be full or part payment). You make an offer to your creditors, usually in monthly payments based on what you can afford. A Debt Reduction Plan usually provides for payment of a percentage of the total debt. It involves regular payments over a period of time and result in a partial payment to creditors. The creditors vote on whether or not they wish to accept the offer. Debt Reduction Plan can be limited to dealing with a debtor’s unsecured or general creditors, or can include provisions which require certain concessions from secured creditors as well. A Debt Reduction Plan which provides for monthly payments will normally run for a maximum period of five years. Only unsecured debts can be included in such a planl, thus car loans, mortgages and other debts where the creditor has a lien on your goods are not addressed and would still have to be paid under the original arrangements. We can reduce your Debt upto 80% You Pay no interest anymore No more collection Calls No more Court Orders No more wage garnishment Keep your Assets with You We find the best deal for you Call us 1-800-977-8967
Posted on: Mon, 24 Jun 2013 09:14:05 +0000
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