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 DEBT NEGOTIATION
How our debt negotiation program helped Mark Smith reduce his debt by 60%
On July 13, 2005, Mark Smith sent us an online request for a free consultation. We called him that day, and by the following, we were talking with his four creditors and negotiating settlements for his $20,000 in credit card debt. Before contacting us, Mark was paying $500 a month toward the credit card debt, but instead of shrinking, the debt kept growing!
When we called Mark, he told us that he felt like he was standing in quicksand, sinking deeper and deeper each day. He said he felt like there was no one who could help him and he would eventually have to file for bankruptcy and give up the things he had worked so hard to get.
We told Mark that there were people out there to help him – those of us at National Debt Consultants. We encouraged Mark to be optimistic and told him about the success our other clients had with our program. We told Mark to begin depositing the $500 a month that he used to pay toward credit cards into a trust account we set up for him.
In Mark’s case, the creditors were hesitant at first to negotiate. But after several months of negotiations, all four creditors decided to settle on Mark’s accounts. Meanwhile, Mark had accumulated $2,500 in the trust account.
The first creditor agreed to accept a 40% settlement on Mark’s $5,000 account balance. Mark withdrew $2,000 from the trust account and paid off the creditor. Mark had just eliminated $5,000 in debt in five months. Had he not contacted National Debt Consultants, Mark would still be paying on a growing debt balance!
Mark continues to put $500 a month into the trust account and is waiting to accumulate enough to pay of the next three creditors, who also agreed to 40% settlements. Mark’s debt will be completely paid off within 18 months from the start of negotiations.
How our debt negotiation program helped Tanya Johnson reduce her debt by 51%
Tanya Johnson called us on October 15, 2005. Tanya has $50,000 in home equity and $50,000 in debt. But her home was older and needed some major repairs. We put Tanya in contact with John, a mortgage professional from our extensive network.
John told us that he could write Tanya’s home equity loan for $50,000 – which would allow her to eliminate her debt. But how would she pay for those much-needed home repairs?
We set to work negotiating her debts, which were spread across seven accounts. By November 1st, we had negotiated settlements with all seven creditors that reduced Tanya’s debt to $30,000 – a 40% reduction. Tanya was able to pay off that reduced debt balance with her home equity loan and make the repairs on her home. She even had enough left over to take her family to Disney World!
By calling National Debt Consultants, Tanya was able to accomplish her financial goals and more: she’s now debt-free, has a newly renovated home, and is soaking in the sun at Disney World!
**Note: These examples demonstrate actual results from NDC clients. Because each individual is different, your results will vary. Contact NDC today to find out how we can help you with your debt situation.
 National Debt Consultants today and find out how you, like Mark and Tanya, can reduce your debt by more than 50% and be on your way to financial freedom!
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