What is Debt Arbitration?

By James A. Gage

Debt Arbitration is the industry created around the practice of debt settlement. Debt arbitrators are third-party institutions or individuals that work on behalf of their clients to negotiate out-of-court settlements for old bills, invoices, lawsuits, liens, medical bills, utility bills, judgments, and other types of significant debt. Typically, debt arbitrators are in lieu of credit counseling as a way to avoid bankruptcy. Due to the 2005 bankruptcy law changes, it is almost impossible for businesses to file bankruptcy and walk away from their delinquent debt. As you can see there is an unbelievable opportunity available for someone who is looking for a career change, mother(s) hours, small business or home based opportunity.

Some other names people referrer to Debt Arbitration are: debt settlement, dispute resolution, civil arbitration, and what we at Negotiating For A Living have created “Independent Arbitration”.

Debt Arbitration Process

The major difference between debt arbitration and credit counseling is the fact that debt arbitrators work independently on behalf of their clients, while credit counselors work on behalf of credit card companies. Debt arbitration itself is conducted through something known as debt negotiation. During this process, arbitrators negotiate a lump sum settlement for amounts owed to credit card companies, creditors, IRS/DOR tax obligations and pending litigations - typically, at a significant discount to the actual amount owed. Clients then make more affordable payments to the debt arbitrators to pay off the remaining balance.

Industry Regulation

In the US no states currently require any form of licensing for debt arbitrators; the industry relies on Negotiating For A Living. Com to certify and provide ethical standards to those who train and practice debt arbitration.

For more detailed information on this industry opportunity, click on the link : “ Video Negotiating For A Living” on the left hand side bar.