Debt Negotiation Service

Debt Negotiation can be a great option if your credit card companies are unwilling to work with you on lowering your interest rates and you are unable to pay your credit card bills.  Debt Negotiation is not a quick solution to your financial problems.  Many of the Debt Reduction and Debt Negotiation companies advertising make it seem like their debt relief programs are the promised land.  The reality is that like anything in life there are consequences.  Debt Negotiation companies can save you a lot of money but it can be at the expense of your credit.  For a debt negotiation program to be effective, you have to be behind on your bills.  If you are current and stop paying your credit card bill, be prepared to watch your credit score drop like a rock.  I have seen credit reports drop as much as 200 points by just 30 days of late payments.

Creditor Calls From Credit Card Companies

Once you stop paying your bills, be prepared to receive credit calls from your creditors.  They do have the right to call you and believe me they will.  They want their money back and don’t mind trying to collect.  You do have rights as a debtor in this instance.  A creditor is not allowed to make threats or call after certain hours.  For more information on your rights as a creditor, you may want to get aquainted with the fair debt collections practices act.