Negotiating your debt takes a lot of compromise from your creditors. Some creditors will be unwilling to budge on your debt and will not be open for any negotiation, whereas others might be willing to settle for a lower repayment amount for the sake of receiving money and clearing your name from their books. Others might only be willing to change the terms of your debt, effectively a refinance agreement.
Essentially, the entire debt negotiation process is aimed at giving the borrower a lower amount to pay back on their loan. This can make the debt far more manageable. It is quite common to go through several different stages of negotiations before finally settling on an agreement. If you are looking for a quick fix to reduce debt, this isn’t it.
It takes time and experience to get the results you need and there is a degree of commitment required for the negotiation process. Fortunately, you have the Australian Lending Centre by your side the entire way. Our main aim is always to support our clients so that they end up in a better financial position than they were in before. With over 30 years of financial expertise, our team is experienced at successfully negotiating debts on a client’s behalf.