Consumer Credit Counseling

What is Debt Arbitration?
Debt Arbitration is a term that is frequently used – and misused – by non-attorney debt settlement companies. Generally, when Debt Arbitration is advertised on the internet or elsewhere, it is simply another term for debt negotiation, which is a give and take between the debt settlement company and the creditor.

A correct definition of Arbitration is the process of resolving a dispute outside of the court system by presenting it to neutral third party. Thus, if true Debt Arbitration, were taking place, you and the creditor would both agree on some neutral party to listen to both sides, and then decide how much of the debt would be paid. You would then be bound by the arbitrator’s decision whether you liked it or not, and whether you could afford it or not. Also, either all or a portion of the arbitrator’s fee could be added to what you owe.

This is not the system used by Consumer Counseling Centers or our attorneys. Our debt law firm does not increase your expenses by adding an arbitrator’s fee to what you are already paying. They do not pretend to be a neutral third party who acts as an intermediary between you and your creditors. Instead, they work directly for YOU. Our attorneys represent YOU, not your creditors. They go directly to your creditors on your behalf, and explain how it is in their best interests, as well as yours, to resolve the debt at a reduced amount.

Financial Freedom is a Few Steps Away
Call Consumer Couneling Centers at 1-888-502-3907 for a free thirty-minute consultation with one of our debt settlement analysts, or fill out the form on our website to receive a call within 24 hours. After you discuss your debt situation with one of our debt counselors, he or she will determine if our debt settlement program is appropriate for you.
If you qualify and our attorneys can create a debt arbitration plan that satisfies your needs, they will go to work on your case immediately. The debt settlement lawyer will contact your creditors and inform them that you have retained them to represent you. Your creditors will be directed to cease all communication with you and direct all future communications to the debt lawyer’s office. This will reduce the stress associated with your problem debt while they are engaging in debt arbitration on your behalf.
Should you continue to receive calls from the creditors, direct them to your new debt settlement lawyer’s office. As part of the debt settlement program we will provide you with a Creditor Correspondence Journal to record these calls before you forward them to the attorney’s offices. This log allows the debt settlement attorney to track creditor correspondence and assists with your debt settlement program. The debt law firm will take the necessary steps to ensure that unwanted harassing creditor calls are abated.
Consumer Counseling Center’s debt relief specialists will work with you and the debt settlement lawyer to determine a monthly amount that you can comfortably set aside for debt settlement purposes. These funds must be set aside faithfully every month in order to secure a debt settlement with your creditors.
The debt law firm will negotiate with your creditors to obtain the best possible settlement for you. Debt settlements vary based on the amount of debt involved and your unique financial situation, but typically range from 40% to 60% of the total debt owed. All settlements are based on the funds you have available.
Whenever the debt settlement attorney obtains a written settlement offer from a creditor, copy is sent to you for your approval. You must be satisfied with the settlement and approve its terms. You will then send the final settlement payment directly to the creditor, which will be the end of that one particular account. This process will be duplicated as many times as necessary until all of the debts you included in your program are satisfied.
If you have any questions about the debt settlement process or would like to receive more information please do not hesitate to contact us at 1-888-502-3907. Our lines are open Monday through Friday 8:00 a.m. to 8:00 p.m., and Saturday 9:00 a.m. to Noon Eastern Standard Time, also sign up online for our free debt settlement consultation. We have professional and experienced staff available to assist you.