5 Steps to Negotiating a Debt Settlement

Once you are deep in debt, it may feel like there is no way out. Even as you make payments, you might not be seeing your total balance go down, and bankruptcy can have a large negative impact on your credit. There is another option — forming an agreement with your creditors to reduce what you owe.

There are countless services out there that offer immediate help while lowering your principal, but many charges a high premium without guaranteeing results. If you are more than 90 days delinquent, or behind, on payments, your creditors or collection agencies will come after you, but it is possible to resolve this on your own.

Negotiating your own debt settlement with non profit debt settlement companies can help you dig your way out of trouble. This process involves persuading your creditor(s) to accept a partial balance of the total debt owed. Here are some steps to help you take your debt matters into your own hands.

1. Get Organized

The first thing to do is to take a step back and assess your situation. Make a list of each creditor, the current amount owed, and how far behind on payments you are. Prioritize your bills and recognize which should be paid first, usually those with the highest interest (or the smallest total balance if you are looking for a quick and motivating victory). It’s a good idea to get your credit reports (here how to get free copies every year) and learn to understand your credit report. Once you receive your copy, be sure the information is accurately reported and see if your creditor has turned your account over to a collection agency.

2. Consider the Options

Collectors are trying to get as much of the money you owe them as possible, so they will likely not accept a lower settlement if you are paying your bill as agreed. Typically they will only consider a settlement only if the account is delinquent. But there is no guarantee they will accept a settlement even if you stop paying, and doing so can hurt your credit score. One way to handle this is to call the company and let them know that you will no longer be able to make regular payments. This can encourage companies to be more open to negotiating.

3. Start Negotiating

Before reaching out to the creditor(s), it’s important to have a plan and be completely transparent with yourself about what is reasonable. Figure out what percentage of the debts you are able to pay and the maximum payments you can afford. This can be done in a lump-sum payment or on a monthly basis.

Remember that other expenses will continue so it’s a good idea to prepare three offers and ensure that none of them compromises your well-being. When negotiating, start with your lowest offer (25% or 30% of the balance). Even though this is likely to be rejected immediately, this is a common baseline and sets the tone for where you are in terms of payment ability.

Maintain a calm, honest and clear tone while communicating with the creditor(s), and keep in mind that they do not have to negotiate with you. If they are reluctant to settle, explain why this negotiation is in their best interest — that receiving some of the money is better than none of it. It’s not uncommon for collectors to settle for between 40% and 60% of the original debt.

4. Finalize Terms & Start Payment

Once the agreement is settled, be sure to receive a written copy of the terms. Don’t pay them until they send you this agreement. Don’t give creditors your bank account or credit card information — it’s often best to pay off these debts using money orders or cashier’s checks. Here’s advice about the best ways to pay debt collectors. It is important to know your rights when you reach this final stage. The Federal Trade Commission, the National Consumer Law Center or your local government offices can provide information on what debt collectors can and cannot do. Review the Fair Debt Collection Practices Act and keep in mind that these payments are now on your terms and you should stick to them.

5. Keep Track

Maintain written records of all communication and payments with your creditors with dates and details. Be sure to keep excellent track and check your credit report so you know the debt is being reported properly. Follow up with your creditors and accounts to ensure the process is going smoothly.

Keep in mind that if you do wipe out $600 or more in debt with a creditor or collector, they may send you a 1099-c form reporting the amount you negotiated away as cancellation of indebtedness income. Here’s why canceled debt counts as income. You may be able to avoid including this amount in your taxable income if you are insolvent by IRS standards. Carefully review IRS Publication 4681 so you understand how this works, and then complete the insolvency worksheet each time you settle a debt. If negotiating lower pay-offs will result in a large tax bill you can’t pay, you may be better off filing for bankruptcy, as debts discharged in bankruptcy are not taxable.

Although settling debt can seem challenging and overwhelming if you have more debt than you can handle it is important to start as early as possible on the process and gather as much information as you can. Be persistent and make sure the agreed terms are promises you can keep.

Practice gratitude

 A word tattooed in many of the interactions we maintain every day

 Sometimes we pronounce it accompanied by a smile ; others, reluctantly. But in most cases it arises automatically , as a mere courtesy formula. That is why many of the ‘graces’ we say are far from what should inspire them: gratitude . This emotion arises in response to the recognition of a favor that has been granted to us. It is a pure and deep feeling, as well as powerful . It is capable of changing our attitude, our state of mind, our way of interpreting our circumstances and the reality that surrounds us. In addition, it also has the ability to change the responses or reactions of our interlocutors, and ultimately, to transform our relationships. We could say that ‘thank you’ is, without a doubt, a magic word.

The truth is that its mere mention opens doors and hearts . Among many other benefits, it works as a kind of social lubricant that facilitates relationships with all the people in our environment. But beyond practicality , gratitude is also an attitude towards life. Maybe it’s time to consider what does gratitude bring? How does it influence our relationships? And what are the effects of being grateful?

When we feel grateful we connect with abundance in all its dimensions. Not in vain, we are able to value and appreciate all those things that we take for granted every day. Things as simple as when you press a switch the light comes on, or when you turn on the tap in the shower hot water flows. A simple gesture of affection , an unexpected smile or an instant of harmony. Unfortunately, we often tend to forget or ignore those things that we are ‘used to’ and which we consider ‘ insured ‘. The vast majority of human beings tend to focus on everything that we lack , or what we would like to have. We live installed in the desire and the expectation . And the direction of our focus of attention marks our behaviors, our attitudes, our goals and ultimately, our way of experiencing and interpreting our circumstances. In this scenario, gratitude appears as an antidote that makes us position ourselves in a much healthier and more constructive place when facing the obstacles that life puts us.

When saying thank you is not enough

Although we learn to thank from a young age, we rarely pay attention to the true meaning of this word. It comes from the Latin ‘ gratia ‘, which derives from ‘ gragus ‘, whose meaning is pleasant or grateful . But what does it mean to be grateful? Broadly speaking, it means recognizing the attitude, behavior or action of someone who has a positive influence on our lives. Giving thanks is the most common, spontaneous and immediate response when this situation emerges, but beyond conventionalism there are thousands of ways to show our gratitude. Often, the word ‘thank you’ falls short . It is so worn out from use that it has lost meaning and content. Hence the importance of turning it into action . In this way, we demonstrate to the other person that we truly appreciate what you have said, done or shared 


To make tangible our gratitude, small details are a vehicle more powerful than words.

To make tangible our gratitude, small details are a vehicle more powerful than words.


In this scenario, creativity takes the reins. It is put on the skin of the other – exercising our empathy – and find a gesture that allows us to show that we value and we felt lucky to be part of our lives. And even if we do it for him, it also affects us. Gratitude teaches us the satisfaction that exists in being accomplices of the happiness of others. The joy of giving, contributing and sharing. And on the other hand, it balances our tendency to focus on ‘receiving’ or ‘achieving’ everything we want. Because when we live focused on receiving, we position ourselves in scarcity . We start from the basis that we lack ‘something’. And we assume the role of ‘victims’. But this attitude ends up taking our toll . It causes conflicts in our relationships, and it distances us from the well-being that we long for.

To connect with gratitude we have to gain in flexibility and lose in rigidity. Not in vain, to thank everything has to do with appreciating, appreciating and living in the present . That means learning to make peace with the fact that life in general is not what we think it should be. Not in vain, expectations and our vision of reality have a decisive influence on our ability to thank. However, gratitude is a muscle . As we train her, we see more and more things for which we feel grateful. That is why it is a good idea to put into practice a very simple exercise , proposed by the father of positive psychology, Martin Selligman: for a week, every night, before going to bed, to think about three things that have happened to us that day that we make them feel grateful. It is the first step to start seeing our life from a more constructive perspective. The first day can be difficult, but if we are constant we can see how it always appears in a more natural way.

Thanks to the appreciation comes the assessment in a natural way. That is, the ability to appreciate what we are, what we have and what we do in the present moment. Paradoxically, the more we value our existence, the more abundance we experience in the emotional dimension of our life. The culture of gratitude gives us the necessary perspective to respond in the most efficient, responsible and conscious way possible to the challenges and unforeseen issues that arise in our day to day. Ultimately, our ability to appreciate and value what is part of our life is as unlimited as our imagination is. And that is precisely what allows us to fully enjoy our existence.

The art of valuing and appreciating

The art of valuing and appreciating

Authentic gratitude is born from learning derived from everything we have lived. To develop it, we have to be able to modify our way of thinking , not interpreting everything that happens to us as “problems” to begin to see the “learning opportunities” that lie behind each ‘complicated’ situation. So we can break the vicious circle that leads us to remember each time something we consider ‘bad’ happens, and forget many of the times that something positive or beneficial happens to us. After all, all the stumbles , mistakes and blunders hold valuable lessons. They shape and sculpt us until we define the person we are.

At this point, it is worth exploring what happens when we are the object of the gratitude of others. When someone thanks us, awakens a pleasant feeling inside us. And it’s worth to enjoy it . But we have to be careful not to fall prey to the certainty that we owe that gratitude. From time to time it is useful to question our motivations to verify if they are aligned with our values. If our gesture is genuinely disinterested , we will not be disturbed by thinking, “How can it be that you do not thank me?” Rather, we will receive whatever comes (or does not come) with the conviction that we have been consistent with ourselves.

Practicing gratitude is a task that requires as much perseverance as determination . It happens to honor all the small gestures and details that we live in our day to day with hope . For making us more aware of the meaning of that magic word, ceasing to use it as a mere courtesy formula. And above all, to implement gratitude as an attitude. I take advantage of these last lines to thank you sincerely for your time and complicity . If they did not give me their attention, I would not have the chance to do something that I’m passionate about: writing. Thanks !

The Commercial Court ends the sale of the Ciudad Real airport to CRIA for 53.4 million

Image result for ciudad real airportCIUDAD REAL, 17 (EUROPA PRESS)

The Court of First Instance and Instruction No. 4 and of the Mercantile of Ciudad Real gave this Tuesday the sale process of the Ciudad Real airport with the definitive award to the company CR International Airport SL, for an amount of 53,390,000 euros. plus the amounts owed – according to what was agreed in the writs of April 23, 2018 and May 22, 2018 – and thus accepts the proposal of the provisional adjudicator consisting of an assignment of the credit for the payment of the pending price of the airport .

Thus it is clear from the car, dictated by the owner of the Commercial Court, Carmelo Ordóñez, who points out that said cession of the credit comes from the final judgment of the Contentious-Administrative Chamber of the TSJ of the Balearic Islands condemning the Autonomous Community of the Balearic Islands to the payment of an amount close to 87 million euros (about 65 million euros of principal, plus legal interests since May 2009 –other almost 22 million euros–) to the administrator of CRIA, all this as a result of a contentious-administrative procedure that was settled in court.

According to the legal basis of the car, which has been accessed by Europa Press, the conditions for accepting the payment proposed by CR International Airport SL (CRIA) require the Contentious-Administrative Chamber of the TSJ of the Balearic Islands to inform the Court of the Mercantil de Ciudad Real the firmness of the sentence, for which the corresponding official letter has already been sent to said judicial body, and that the Government of the Balearic Islands, once the present order has been communicated to it as well as the finality of the judgment, respond in writing, before September 30, 2018, accepting the payment of the monetary conviction and ensuring that the total payment of the amounts is made before December 31, 2018, and in any case no later than December 31 of 2019, so as not to prejudice the interests of the contest.

Once the Mercantile Court of Ciudad Real arrives at the communication of the finality of the Judgment of the TSJ of the Balearic Islands, and it is confirmed that the official letter sent to the Balearic Government has arrived correctly and has answered positively before September 30, 2018 , the Bankruptcy Administration and the buyer, CRIA, must appear within the maximum period of 5 days in the notary for the signing of the public deed of sale. Once published in the BOE, CR International Airport SL will hold the status of buyer, promoter and manager of the Ciudad Real Airport.


Image result for allegationAs Europa Press has already advanced, the order states that there have been 11 allegations submitted to CRIA’s payment proposal, now accepted by the judge. Of those 11 allegations, two that correspond to creditors have been contrary, and the rest, including the Insolvency Administration, the insolvent company and the three most important creditors for the amounts of credit against the recognized contest mass have accepted said payment proposal .

The magistrate reviews in a neat way the reasons and the circumstances that have led him to accept the dation in payment proposed by CR International Airport SL, among them that CRIA has been the only provisional contractor, who has disbursed 5% of the payment of the infrastructure and that it has made improvements and investments, as well as efforts to obtain the rehabilitation of airport licenses and the recovery of airspace.

Likewise, it has also taken into account that the form of payment proposed by CRIA is a real and secure credit right, which adds with capital and interest 86 million euros that more than covers the purchase price of the airport, and that this assignment of the Credit is a payment method with which the obligations are fulfilled, with the effects of a solution, all based on numerous jurisprudence around the figure of the transfer in payment; that said payment title is a final judgment, as established by the Supreme Court, and without the possibility of any type of appeal; that there is evidence that said judgment of the Supreme Court of the Balearic Islands is real and firm; or that the condemned to the payment is a public administration.

To all this is added, underlines the magistrate, the intention expressed publicly by the Balearic Government to pay the monetary sentence of the sentence of the Supreme Court of the Balearic Islands in the current financial year, as they have publicly stated representatives of the Balearic Government.


For all these reasons, Judge Carmelo Ordóñez has indicated that he has accepted this payment proposal made by CR International Airport SL considering that it is good not only for the interest of the contest, but for the general interest of Castilla-La Mancha, with the future implementation of airport infrastructure.

The magistrate contemplates in the writ – against the one that can only appeal for reinstatement – all the possibilities as of the acceptance on the part of the Court of the proposal of payment made by CRIA, such as the form in which it will proceed to the cession of the credit in payment once the Judgment of the TSJ of the Balearic Islands is executed, the management of the 5% of late interest offered by CRIA in case of delay in the procedure, and that will reach 2.8 million euros, as well as the in which the amounts received from the assignment of the credit will be allocated: firstly to the payment for the purchase of the airport, secondly to the payment of the debts to the Treasury that has CRIA pending, and in third place to obtain the liquidity that the buyer needs to start the Ciudad Real airport, all with prior judicial authorization.

In the order, the magistrate authorizes the Bankruptcy Administration to arbitrate agreements with financial institutions that allow the creditors with credit against the mass of the recognized contest the immediate collection, if they so wish, of said debt. All with a discount percentage on the debt for prompt payment.

Faxless Payday Loans A Paperless Solution That Is Quick

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