Settlement Process

There are three keys to BAC’s success in settling debts:


Based on your input, BAC develops a proposal that reviews your situation and the specific problems that have pevented you from maintaining payments. Even if creditors are not sympathetic to your plight, they gain an understanding of the hurdles they will face in collecting. Most creditors are amenable to a settlement when they see the full picture.
A big mistake that many debtors make is trying to settle on the telephone. You can’t make your case successfully on the phone. Also, in many cases the proposal is reviewed by many several people and a written proposal travels much better than phone calls. BAC typically provides the written proposal before we have any contact with the creditor.


In setting it is important to be the one who makes the offer, not the one who responds to the an offer. The settlement proposal contains an offer that is based on your ability to pay.
A big mistake that many debtors make is asking what the creditor will accept. The creditor’s offer will be too high and you are then a position of fighting the creditor’s offer. You’re in a better position to have the creditor respond to your offer.


BAC bases the offer on your situation and our experience. We don’t make an offer that is so low that it “insults” the creditor, but an offer that you can afford and one that is low enough to give us some room for an increase. Any offer is approved by you before we make it.
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