If you are having issues with your credit or your ability to pay back your debts then you are no doubt aware that some companies will offer debt reliefs. Why is it that these companies offer this service and what is in it for them? What we must look at is your debt from the perspective of your creditor. If you have not made your payments for a matter of months they have information based on statistics analysis which enables them to make an educated guess about your likelihood of paying back that debt in the future. In in their determination you are unlikely to pay back the debt at all, they will often offer debt relief for part of the debt.
Remember that they are not making a comparison between the amount of money that you owe and the amount of money they are collecting they are making a comparison between how much money they feel they are likely to collect if they attempt to collect all the money that you owe versus attempting to collect a portion of the debt at one time. This is why the company may offer debt reliefs. How large of a deduction in the amount that they will accept is dependent on a number of factors including your payment history with that company the amount of money that you currently owed to them and company policies which set these thresholds. They also taking consideration the likely success of taking further legal action against you or taking you to court in order to collect the money that you owe them.
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