Debt Settlement
Our primary goal is to provide you with debt consolidation, but in some cases when that can’t be done, we can assist you with a debt settlement.
Although debt settlement may seem like the answer to all of your financial problems, there are certain facts that are important to remember.
Listed below are the most important things that you should bear in mind when enrolling in a debt settlement program.
FIRST
There Is No Guarantee That Your Creditors Will Agree To The Debt Settlement Proposal
Please do not pin all your hopes on your creditors agreeing to our proposal for debt relief. They are under no obligation to do so, and as part of the negotiation process, it is highly likely that on the first approach, they will say no. However, this is where working with Pacific National Funding works to your advantage. We never give up, and we will continue to negotiate on your behalf. We have established excellent relationships with many creditors, and our team are experts at negotiating on your behalf.
SECOND
Debt Settlement Is Not A Legally Enforceable Right
Although the concept behind the debt resettlement process is to help people in financial difficulty, and the government is eager for creditors to participate fully in the process, there is no legal obligation for them to agree to any debt settlement option. The responsibility lies on the borrower to demonstrate that they cannot afford any other payment options. Legally, creditors must be open to debt settlement, but they are under no obligation to agree or accept the terms we are offering on your behalf. In fact, the only right you have is the right to apply for debt settlement. Any laws which the government has developed in this area are mainly to do with protecting debtors from being constantly harassed by creditors. As with any debt situation, the most productive option will be in engaging with your creditors to come up with a mutually beneficial solution.
THIRD
Debt Settlement Is Not The Preferred Option For Creditors
When it comes to the negotiation process, there are many options available to creditors, and it is essential to understand that a debt settlement is unlikely to be high up on a creditors list of preferred options. They have a responsibility to their shareholders to obtain the best deal, and in the majority of cases, debt settlement is unlikely to be that option. If they think that you have the financial capacity to pay off your debts in full, then they may agree to lower the interest rate but still require full payment of the outstanding balance. Another option they might suggest is to extend the payment period, which would then lower the monthly payment. You need to be prepared for any of these options, in case the debt settlement option is refused.
LET US HELP
Your Step By Step Strategy For Settling Debts
The critical thing to remember when it comes to settling your debts is that your creditors want to recover as much money as possible. Although there are never any guarantees in this process, we have listed some tips and strategies to follow as you work your way out of debt. Even if your creditors have initially said no to debt settlement do not give up, it can be a long, slow, complicated process, but if successful it will be worth it in the end.
1
Write Everything Down
Although this may sound overly negative, work on the basis that if it is not written down, it did not happen. Your creditors may well be dealing with thousands of debtors, so it is in your best interests to keep a comprehensive record of all communication between you and your creditors. Keep a copy of every piece of correspondence you receive from your creditor, and if you are are using a debt negotiator, make sure that you are kept up to date with all communication.
2
Track Details Of All Phone Calls
Not every aspect of the process will be done via written correspondence. If you do need to speak to someone on the phone, always take their name and job title. Record the time and date of the phone call, and also anything that was discussed. Then write down everything in a letter, and send the creditor a copy, with a simple note at the beginning explaining that you are confirming the details of your recent conversation. Ask them to do the same as this will then verify what was said and ensure that there was no misunderstanding.
3
Patience is a Virtue
Although it is understandable that you want to put your financial problems behind you, the process is unlikely to move quickly. In some cases, the older the debt, the more willing the creditor may be to settle it, but if the creditor believes that you have the financial capability of paying it off, then they are much less likely to negotiate. In fact, in some cases, they may even decide to take out a lawsuit against you, so it is vital that you can demonstrate that you are financially incapable of making the payment.
4
Never Make Any Payments Until You Have A Proposal In Written Form
Never Make Any Payments Until You Have A Proposal In Written Form
This might sound cynical, but before making any payments, it is essential that you have a written letter or email from your creditor which confirms the terms of any agreement. If you choose to make a payment, and the company then reneges on the deal, you have no proof that they ever agreed to that arrangement in the first place. It is also imperative that you understand the terms of any agreement to prevent problems arising in the future.
Are You Looking To Lower Your Debt?
Not everyone who applies for a loan from us is looking to purchase a car or finance a holiday. For some people who have many loans with stores, credit cards, and banks, a consolidation loan may be a much better solution. By combining all of your debt into one manageable payment, one payment date, and in many cases a better rate of interest, many of our customers save a lot of money in the process. This not only makes everything easier to manage on a daily basis, reduces your payments, but could save you significant money in the long term in interest payments alone. There is also a good chance that you could be debt free quicker allowing you to start planning for the future.
How to lower your debt? Easy.
A Simple Three-Step Process
1
Calculate Your Rates
Everyone is different, their loan requirements, their current situation, their aspirations and goals, which Is why we offer one of the most extensive ranges of loan options on the marketplace today. We believe in giving you a choice, but we will also be there to guide you and answer any questions you may have. Our company policy is to serve our customers and provide them with the best products and support available on the market.
2
Agree and Accept the Terms
Once you are happy with the product you choose, we complete the application process, and you will receive your offer. This will set out the interest rate, the terms, and conditions of the loan and any other relevant conditions. We will complete all of the necessary paperwork for you, and all that is required from you is a signature agreeing to the terms and conditions listed.
3
Wait For Your Money To Arrive
That’s it! All that is now required of you is to sit back and wait for the money to hit your account. We aim to respond to every application within 48 hours, but in many cases, the funds will be in your account the next day. There are no restrictions on what you can use the money for, be it a nice vacation, a consolidation loan to lower your overall payments or a new vehicle – the choice is yours.
Checking your rate will not affect your Credit Score
Why Trust Pacific National Funding
Here are the Benefits at a Glance
Fast and Hassle-Free
In the modern age of computer credit checking, it can be almost impossible to sit down and discuss your financial situation with another human being. We all know that life happens, and a pure credit score can not and does not explain the entire situation. At Pacific National Funding, we understand and acknowledge that we are dealing with real people’s lives, which is why we make the entire process fast and hassle-free.
Flexible Terms up to 5 years
We cater to every situation and have flexible terms from 12 months up to five years. It costs nothing to call us and get a quote, and you may be pleasantly surprised at the answers you receive. For many people, the fear of the unknown is the hardest part of the process. Don’t worry unnecessarily, give our friendly and knowledgeable staff a call today.
Fast and Hassle-Free
In the modern age of computer credit checking, it can be almost impossible to sit down and discuss your financial situation with another human being. We all know that life happens, and a pure credit score can not and does not explain the entire situation. At Pacific National Funding, we understand and acknowledge that we are dealing with real people’s lives, which is why we make the entire process fast and hassle-free.
Flexible Terms up to 5 years
We cater to every situation and have flexible terms from 12 months up to five years. It costs nothing to call us and get a quote, and you may be pleasantly surprised at the answers you receive. For many people, the fear of the unknown is the hardest part of the process. Don’t worry unnecessarily, give our friendly and knowledgeable staff a call today.