It helps sometimes to put things in perspective with a little math. On a daily basis here at ZipDebt, clients report successful settlements on their debt accounts. I finally had a chance to take a closer look at the numbers for 2009 so far. For the months of January and February 2009 combined, clients have reported settlements that resulted in more than $1.1 million in savings.
In other words, creditors forgave more than a million dollars worth of unsecured debt balances. Virtually 100% of these settlements were negotiated by clients on their own, with training and coaching assistance from yours truly.
I should also point out that the $1.1 million saved does not include the additional savings achieved by using the do-it-yourself approach. Clients saved at least another quarter-million dollars in fees that traditional settlement companies would have charged to accomplish the same results. And of course, that leaves aside the fact that many of those settlements would not have taken place through a third-party debt company. That’s because of the backlash triggered by the use of a settlement company, which often prompts the creditor to escalate early to aggressive collection agencies or attorneys, resulting in a much higher settlement percentage, etc.
If you are wondering, “Will the banks still settle in this financial crisis?” there is your answer! More than a million bucks worth of debt in just two months – gone, vanished, out of clients’ lives forever. I feel pretty good about that, and it’s results like these that motivate me to keep going. I have a tough job that involves far more work than most people realize (especially my copycats and imitators). But as long as I’ve been doing this, it’s still a wonderful feeling to see the settlements roll through and witness the positive effect it has on clients’ lives.
Mr. Smith says
Just wanted to let you know the success I’ve had settling my own debt over the last six months.
I purchased your DIY kit in November 2008. At the time, I had two credit card balances of $45K and $25K. I also had two HELOCs of $119K and $220K. These amounts total $409K! I had been borrowing to pay interest for over a year and I finally came to the conclusion that I had to do something different. I spent hours online trying to figure out what my options when I came across your site, http://www.zipdebt.com. Finding your site was such blessing.
I listened to all the CD’s and immediately began implementing a plan to settle my debts on my own. The path was scary, but I placed my trust in your experience and guidance.
As of today, I have settled $189K of debt for $40,815.10 (21.6% average!). The credit cards are now all settled and the $119K HELOC will settle on June 17th. I still have the $220K HELOC to deal with, which just went into Phase II last week. But, am I worried…yes, but I have the confidence to stay the course and get this last piece of debt resolved. Once accomplished, I will be completely debt free. I can’t wait for this day. I will let you know when it happens!
Mr. Smith in Arizona
Thank you, Mr. Smith, for sharing your experience with others who may be
considering the debt settlement option. Congratulations on some excellent
success! Folks, there is no reason to pay thousands of dollars in fees,
when you can accomplish results like these (with a little training from ZipDebt)!