Debt Relief Tips - How To Settle Your Debt For 50% And Less Of What You Owe
How to Settle Debt For 50% of What You Owe and Be Debt Free in 30 Days
By Richard G Cooper
Question: What do you do when you are trying to refinance your mortgage to consolidate your debts but there isn’t enough money to pay all those bills in full?
Answer: Use the proceeds of the mortgage financing to settle all the debts owed for less. This solution is ethical, legal and can completely resolve $78,000 of credit card debt for less then $28,000.
Do not let anyone tell you it cannot be done. We do it for our clients every day, and all these folks were staring bankruptcy in the face only 3-4 weeks prior to having their debts all settled for less.
I have been in the debt relief business for some time now and we have solved some serious debt problems; my company Total Debt Freedom has had somewhat of a love affair with settling debt using mortgage refinancing. We are considered top in our field in Canada. To date we have helped mortgage brokers and homeowners alike salvage millions of dollars in mortgages that would have never been approved without our help.
For people who have plenty of equity in their homes and can pay their bills off in full, debt settlement isn’t your solution. Get your mortgage closed and pay your creditors in full otherwise you could end up with bigger problems then you bargained for.
Debt settlement and mortgage refinancing works best in situations where you need to avoid bankruptcy, something like this: lets say you owe $50,000 in credit card debt and your mortgage agent can only get you approved for a $25,000 2nd mortgage to pay off that debt. You would normally have a serious problem, but not with a debt settlement solution.
My company has resolved problems like these thousands of times by negotiating a huge reduction in the debt. If you can get about half of what you owe out of your home equity, we can settle all your debts and that includes the fee for the work. If you are being harassed by bill collectors then consider how debt settlement and a mortgage can solve your problems.
Educated homeowners with sufficient resources can actually accomplish this on their own. There are however several things to consider such as the cost of borrowing, how your credit may be affected and any how deep in debt you really are.
Talk to a reputable debt settlement company like at http://www.totaldebtfreedom.ca - get a free quote and see if debt settlement is the right solution for you.
Richard Cooper is Founder & CEO at Total Debt Freedom Inc. Canada’s most respected debt settlement company. Total Debt Freedom offers debt settlement plans that can save you 50-70% of what you owe and get you debt free in 1 - 3 years. http://www.totaldebtfreedom.ca
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