Practical Debt Relief
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Credit Card or Business Debt Negotiation and Settlement
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Why choose Practical Debt Relief?
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Practical Debt Relief Testimonial Debt Negotiation Testimonial

Debt Negotiation is considered a relatively new process in which a debtor eliminates large portions of unsecured debt by utilizing Practical Debt Relief’s tested and proven debt negotiation platform. Few people actually know about this solution to their debt problems and that this program has been around for a long time now.

About 40 years ago, shortly after the credit card was introduced the credit card companies created a debt settlement program. The original program was intended for any individual who was at one time making on time payments and was now suffering from some form of a legitimate financial hardship.

The reason these companies are interested in making these types of options available is pretty easy to understand. The creditors are aware of your legal rights and even more so their own legal rights. They understand the risk they assume by lending on the unsecured debt and rather recover something then “nothing” at all. If your creditor has the opportunity to agree upon a debt negotiation settlement and collect a portion of every dollar you owe versus holding out and taking the risk of receiving nothing, it becomes an easy choice. They’ll negotiate!  Practical Debt Relief understands this, which is why we offer debt negotiation services to clients providing them with the opportunity to pay off their debt instead of relying on less favorable options, such as filing for bankruptcy.  We offer several debt consolidation negotiation services such as business debt negotiation and credit card debt negotiation.

Some may think that it’s easy to negotiate with their creditors without the assistance of a debt negotiation company.  In fact many consumers try on a daily basis. The problem is that the credit card and collection industry is a billion dollar industry. The creditors have trained professionals with scripts in hand ready to deal with anybody trying to negotiate their own unsecured debts. Having a trained professional to assist you in handling your credit card debt negotiation can make a world of a difference. At Practical Debt Relief we allow you to focus on improving your financial wealth while the professionals handle your debt negotiation settlement  with your creditors.

Debt Negotiation Process

Debt Negotiation is the newest and most popular method of eliminating unsecured debt without filing for bankruptcy. See below for an overview.

Step 1: Call or fill out our form for a free money savings consultation. One of our debt specialists will assess your financial needs to see if you qualify for debt negotiation.

Step 2: We take a detailed budget to determine what payment plan fits within your budget. Monthly payments are made into a “Special Purpose Account”, a separate third party account set up in your name. This account is used to complete settlements with the approval of the consumer.

Step 3: Once enrolled in the debt negotiation program Practical Debt Relief makes immediate contact with your creditors to help eliminate harassing and dreaded creditor phone calls.

Step 4: The debt negotiation process generally begins within 3–6 months depending on creditor balances and monthly payment amounts. Once enough funds accumulate within the “special purpose” account we negotiate with each creditor starting with the most eager one and working our way down the list.

Step 5: As each account is settled we notify you by phone and provide you with a copy of the settlement for your personal records.

Step 6: Upon completion of the debt negotiation program we analyze each individual situation to see if credit repair(2) might be a good choice for you. If you are interested in purchasing a home or obtaining an auto loan we can refer you to one of our affiliates. Please contact us for more information.

Debt Negotiation FAQ’s

Q: How much unsecured debt must I have to qualify for debt negotiation services?

A: An individual must have a minimum of $ 5,000 in unsecured debt in order to qualify for debt negotiation services and each account must have a minimum balance of $ 750.00

Q: How will debt negotiation affect my credit?

A: Like any debt relief option, debt negotiation will have a negative effect on your credit initially. In order to qualify for debt negotiation, an individual must be past due which can reduce your credit score by as much as 60–100 points before it slowly begins to increase itself over time as we eliminate debts and your debt to income ratio (DTI) is reduced. It’s important to understand that debt negotiation or debt settlement is not a quick fix and takes time and dedication. You did not get into debt over night and the same will be true in eliminating that debt.

Q: Can I still be sued while enrolled in the debt negotiation program?

A: Yes. Your creditor does have the right to sue you for seriously delinquent payments. This can be very common during the debt negotiation process depending on many different factors including program length, creditor balances, and consumer hardship. Remember though the creditors can’t throw you in debtors prison or anything like that. Your creditor will typically go for a judgment, which is a legal confirmation of the debt. Once this is obtained the creditor can start the wage garnishment process depending on your state laws. However, pursuing legal action is expensive for creditors and they rather receive a debt negotiation settlement than push you too hard and run the risk of forcing you into bankruptcy, in which case they receive nothing. We have built strong relations with even the toughest attorneys in the industry over the years and will do our best to negotiate the lowest settlement amounts possible before any legal proceedings ever take place.

Q: How is debt negotiation different from debt consolidation?

A: Debt negotiation is the process where after we successfully negotiate, your creditors agree to accept a payment amount that is less than the full amount owed. A credit counseling program otherwise known as debt consolidation is where a credit counselor negotiates to consolidate all your unsecured debt payments into one monthly payment at a reduced interest rate. In debt negotiation you pay back only a small percentage of what you owe with no more interest moving forward. In debt consolidation you pay back the FULL entire balance including compounded interest, late, and over the limit fees. Statistics also prove that a higher percentage of people complete the debt negotiation settlement process as opposed to debt consolidation negotiation. It’s also been proven that a higher percentage of people suffer from non-refundable payments in debt consolidation than program graduates save in reduced interest rates. This proves that debt consolidation may not be the best and most viable option for everybody seeking some form of debt relief.

Q: What happens if I miss a payment while enrolled in the debt negotiation program?

A: Practical Debt Relief does not charge you any late fees if circumstances arise and you are unable to make your monthly payment. We do not encourage skipping payments as this can prevent you from completing the debt negotiation program in the planned program length time period.

Q: Are there any tax consequences when I settle my debts through the debt negotiation process?

A: Your creditors may provide a 1099–C form for settled debt exceeding $600 upon completion of debt negotiation. In some cases however, you may qualify for the "insolvency exclusion". If your total liabilities exceed your assets you should qualify for the exclusion. We recommend you consult your tax advisor for more information and are not offering legal advice. Your tax advisor will be able to assist you in filling out the proper form. If required to pay taxes on the settled debt it’s important to understand that your only being taxed on a percentage of the “savings” negotiated during the debt negotiation process. In the end you are still saving a significant amount of money.

Q: Why is debt negotiation considered such a good alternative to bankruptcy?

A: Debt negotiation is a process where YOU the borrower remain in control. In bankruptcy you’re basically giving up control over your financial situation and putting all the control in the hands of the court or trustee. Filing bankruptcy may permanently disqualify you from some high level or sensitive positions and can even prevent you from becoming bonded. Bankruptcy also does not modify your spending behavior and with that in mind people often fall into this trap time and time again. Some unscrupulous bankruptcy attorneys will try to talk people into this decision very quickly before anybody can realize the serious consequences of their decision. Before making any decision regarding debt relief options please do research to ensure you choose the best solution for you and your family.

Q: How does Practical Debt Relief make money?

A: Practical Debt Relief makes a percentage of the debt amount enrolled in the debt negotiation program at the time of settlement. Our Arbitrators will negotiate your debt down to less than what you owe* and we would collect 20% of the enrolled account balance for services rendered. The 20% settlement fee is not collected until the account is settled.

Q: Will all the creditor & collector phone calls stop once I start the debt negotiation process?

A: During the initial stages of the debt negotiation process and while the original creditors still service the account we cannot stop the phone calls. Once the accounts become 90–120 days delinquent your creditor will sell the debt off to a collection agency for pennies on the dollar. At this point we send cease and redirect letters to the collectors forcing them to only contact us regarding your account. While the majority of the collection agencies honor this system you sometimes have that bad employee who breaks the rules. If we can prove harassment after your request to stop communication is documented in writing you can sometimes win as much as $ 1,000 according to rules set forth by the Fair Debt Collection Practice Act (FDCPA).

Q: How can I reduce the phone calls during the debt negotiation program?

A: There are a number of steps that can be taken to reduce the amount of creditor phone calls during the debt negotiation process. We immediately exercise all your rights under the Fair Debt Collection Practice Act to make sure that the collectors are not abusing your rights. Please contact a debt specialist for more information on this matter.


Call 1-888-839-3574. One of our Debt Consultants will be happy to assist you Monday – Friday between the hours of 9:00 am – 9:00 pm EST. You can also call any time and leave a message.

Email us anytime at

Practical Debt Relief, Inc.
Phone # 888-839-3574
Fax # 888-853-7651
5220 S. University Drive. Suite 107
Davie, Fl 33328

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Practical Debt Relief disclosure
Practical Debt Relief, Inc.
5210 S University Dr Suite 104 Davie, Fl 33328
● Phone: # 888-839-3574 ● Fax: # 888-853-7651