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One of the first questions a new prospective client may ask Cambridge Life Solutions when they call is “why would a creditor agree to settle on my debt?” A great question and it boils down to each specific consumer in the form of one specific word “HARDSHIP”. So what is a “hardship?” A hardship is anything that is making it very difficult for you as a consumer to make on-time payments to your creditors and pay the debt off for good. Here are some of the most popular hardships href="http://cambridge-life-solutions-canada.ca/">Cambridge Life Solutions has found affecting many consumers: #1. Loss of Income Hardship. Maybe your hours were cut at work, maybe overtime was cut, or maybe you lost your job, these are all hardships that affect your ability to pay your creditors because you normally depended on this money to do just that. Cambridge Life Solutions has found creditors can easily recognize this when it comes to negotiating a settlement. #2. Separation or Divorce. In a marriage, we have seen spouses with joint cards, separate creditors, a variety of mixed matched options. When a couple goes through separation or divorce now those debts are split apart and now instead of 2 incomes covering those costs, now 1 income is left paying the balance. It can make things extremely difficult. Also there are many spouses that have raised a family, so now not only are they on their own but they have to rejoin the work force; which is a hardship in and of itself. When you add debt to the mix it almost makes it impossible to get ahead. Cambridge Life Solutions has achieved many settlements on behalf of clients that have experienced a separation or divorce. #3. Medical Hardship. If you had a medical condition that affected your ability to work this is indeed a hardship. So if you are out of work focusing on getting healthy making those payments to your creditors can be very difficult. Cambridge Life Solutions has seen creditors accept medical issues as reasons why they agree to settle. The list goes on and on. There are hundreds of hardships consumer can experience and it’s important to know each and every hardship is unique to that specific consumer. Give Cambridge Life Solutions a call for a free consultation and explain to us your hardship. We are not going to judge you; we just need to know because it is one of the most important factors when it comes to negotiating debt. Here’s another reason why creditors may agree on a settlement as payment in full on your debt: Collections. For many of Cambridge Life Solutions clients they are calling because their debts have gone into collections, they are getting those harassing phone calls and they really don’t know what to believe from their creditors because they use so many scare tactics to try to get them to pay. Cambridge Life Solutions loves working with accounts in collections. You want to know why? Well, debt collectors usually work on contingency, meaning they get paid only when they collect on the debt you owe. They want to settle because they sooner they get paid the quicker they get their share from the original creditor you owed. Cambridge Life Solutions has even developed relationships with specific collection companies. Because Cambridge Life Solutions represents many clients debt collection companies have assigned specific representatives just to servicing our company. Because we work in large volumes and represent multiple clients with the same creditor Cambridge Life Solutions receives very good discounts on the debts. The more debt we represent typically means the great savings we get for our clients. Instead of creditors chasing down each individual client one on one, they go to Cambridge Life Solutions where we represent let’s say 50 – 100 consumers with the same debt. This convenience translates to savings for our clients. Another great reason why creditors settle with Cambridge Life Solutions: Bankruptcy. Bankruptcy? Yes, bankruptcy! When it is difficult to pay your debt and you are late on your payments, your creditors start to get concerned that you may be considering filing for bankruptcy. In bankruptcy, unsecured debts like credit cards, collections, personal loans, lines of credit, etc., usually are paid back nothing if the debtor’s assets are all protected. So why would a creditor rather settle with Cambridge Life Solutions debt negotiation program? Because with our program they at least get paid a portion of something rather than nothing at all that could happen if you chose to file bankruptcy. There are many strategies and reasons why creditors settle debts and Cambridge Life Solutions is a leader in the field when it comes to debt negotiation. Give us a call, tell us your hardship and a give us some background on your financial situation so we can access if our debt negotiation may be your best option on becoming debt free; call 877 473 8008 today. About the Author: href="http://cambridge-life-solutions-canada.ca/">Cambridge Life Solutions has settled millions in consumer debt and each month that number continues to grow. On average, once we have received a settlement offer from a creditor on behalf of our client it shows over 60% in principal savings. to daily tournaments which would only require small buy-ins but provide whopping jackpot prizes.
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