Debt Mediation

By siriussols
In Debit And Credit
Sep 27th, 2016
0 Comments
458 Views

Whether it’s because of medical bills, student loans, credit cards, or car payments, getting into debt is more commonplace than you may think. If you know that you are in a substantial amount of debt but you feel like there is no way out, Miller, Stark, Klein & Associates work to help you see the light at the end of the tunnel. Getting out of debt is actually easier than you think!

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How does Miller, Stark, Klein & Associates get you out of debt? They actually act as a debt mediator. Debt mediation is the process through which a third party, or “mediator” works with both the borrower and lender in order to come to an agreement to settle a dispute. Using negotiation tactics, debt mediation can lower the overall amount of debt that is owed to one or even multiple creditors. The process has a few steps, but it’s a fairly simple process. Here’s what happens:

  • Contact a verified company to act as the mediator. This company typically employs attorneys that are well trained and versed in dealing with creditors.
  • Once you have hired a company, collectors will then speak with them regarding all of your debts. When this happens, they will likely stop calling you directly.
  • Instead of making your monthly payments to the creditors, you will begin making monthly payments to your company of choice. The mediator will put this money aside or into an account to eventually be used to pay off the debt in a lump sum based on what is negotiated. Another option that can result through debt mediation is a lower monthly payment instead of a lump sum pay off.
  • This process is available for unsecured debts such as student loans, medical bills, and credit cards.

While the process can seem intimidating and even nerve-racking, negotiating with creditors has a ton of benefits. If you can’t afford your monthly payments, you are looking at ruining your credit score, paying late fees, and dealing with daily collection calls. By negotiating through debt mediation, you will be able to get the lump sum of your loans down to a manageable payment. You won’t be crippled by interest rates and you can rest easy knowing that your credit will make a recovery. Plus, with no one hassling you with daily phone calls and letters, you can increase your quality of life.

Debt mediation is not only beneficial to you but can also be worthwhile for the lenders as well. By reaching an agreement through debt mediation, the lenders don’t have to deal with seizing your assets or taking you to court. They won’t have to worry as much about being paid as the process makes sure that they get an amount of money that they are happy with.

Miller, Stark, Klein & Associates is a team of professionals who offer debt mediation services to those in need. While helping borrowers to reduce their debt, they also give advice and preventative tactics to help people stay out of debt or handle the debt that they are in themselves. Using experience, expertise and a standard of excellence, they have been helping people get out of a sea of debt for more than 75 years. They pride themselves on their professionalism as well as their ability to get results fast and to meet their client’s expectations. Finding a debt mediator can be simple, but finding one who is truly experienced and worth your time is not always so easy.

Fine tuning their skills over the years, the firm is sensitive to negative consequences that may occur which helps them protect you and keep your best interest in mind. While they work in all sorts of debt mediation, they specialize in:

  • Bad Check Recovery and Medical Collections
  • Student Loans and Pay Day Loans
  • Retail Accounts and Credit Card Debt
  • Personal Loans and Automobile Loans
  • Business Loans and consumer collections
  • Collections for Small Businesses

The take pride in their team and have an extremely selective hiring process. Once the right candidates are hired, each person goes through an intensive training program to ensure that your finances are in the best hands. Employees are trained in state, federal, and local regulations in regards to debt collection laws and frequent meetings take place to ensure that everyone on the staff is always up to speed.

If you feel that you are in over your head and can’t pay off your bills, help is out there. Miller, Stark, Klein & Associates wants you to know that they have your back when it comes to turning your life around and getting yourself of debt. By trusting them to mediate on your behalf, you are giving yourself the gift of peace of mind. Don’t let yourself drown in debt when a life preserver is merely a phone call away.

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