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How Debt Relief Works

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How Debt Relief Works

  1. 1. How Debt Settlement Works<br />The 5 Easy Steps of How Debt Settlement Works<br />
  2. 2. Step 1<br />Work with a debt counselor to find the most affordable way to pay off unsecured debt accounts<br />Gather all credit card and/or loan statements for interest rate and current fee review<br />Let debt counselor assess the true payoff time if no assistance was needed<br />If new program terms make sense, debt counselor will assist in completing the proper enrollment documentation needed<br />
  3. 3. Step 2<br />A savings/escrow account will be open in the sole name of the client<br />Money will be placed into this account on a monthly basis until enough money has been saved to payoff individual accounts<br />Monthly statements will be sent to savings account owner every month just as a normal savings account would do<br />Funds are FDIC insured<br />
  4. 4. Step 3<br />Debt settlement company will negotiate on your behalf with each of your creditors<br />Company will negotiate with your savings account only if a reasonable negotiation has been Agreed upon<br />Negotiations are done in bulk. If you have a $10,000 credit card with Bank of America, the debt settlement company will most likely have over $3 Million in the debt portfolio that will all be negotiated in a bulk settlement<br />Example: <br />$ 3 million in debt X 60% savings = $1.2 million paid back<br />Bulk Settlements = BEST DEAL!!!<br />
  5. 5. Step 4<br />Continue putting money towards savings account until all cards in program have been negotiated<br />Keep in contact with debt counselor for any updates<br />Any creditor calls or paperwork should be forwarded to debt settlement company<br />
  6. 6. Step 5<br />Graduate from the program<br />Be more disciplined in credit card usage<br />Stop robbing from Peter to pay Paul!<br />And Finally……..<br />BE DEBT FREE AND ENJOY LIFE!!!<br />
  7. 7. Some Quick Debt Facts<br />In 2005, the United States of America had $700 billion in outstanding credit card debt… we now have more than $950 billion in credit card debt<br />The average American had $10,000 in credit card debt as of 2004…today the average American has $16,605 in credit card debt<br />If you had $15,000 in debt and were only making minimum payments, it would take you over 14 years to payoff this debt (to check for accuracy, CLICK HERE to calculate)<br />The US has it’s all time record of Bankruptcy filings. As of 2009, we’re at 9% as a nation.<br />
  8. 8. Get Some Help!<br />Call us to get a free assessment<br />If debt settlement isn’t right for you, we offer other debt assistance programs as well<br />Waiting will only allow your creditors to charge more interest and fees!<br />Call 1-877-332-8650<br />www.miracledebt.com<br />

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