Lump
Sum Settlement
/ Negotiation
If you have
acquired,
or will acquire
a lump sum
settlement
(from a redundancy
package or
from inheritance
etc.), then
it is often
a good idea
to make these
funds available
to creditors,
even if the
fund are not
sufficient
to cover the
whole of the
debt. Many
creditors,
where they
see their
client to
be in difficulty,
will be willing
to negotiate
the full outstanding
balance of
the debt,
where they
see justification
to do so.
We will take
on these negotiations,
guaranteeing
that before
you pay us
any fee, we
will have
improved your
circumstances.
A full settlement
is not always
going to be
an option,
depending
on the size
of the lump
sum; however,
via Gemstone
significant
reductions
could be negotiated.
Leaving a
smaller balance
outstanding
that could
be easily
cleared by
continuing
use of our
‘Freedom
Plan’.
There are
many factors
that determine
whether a
creditor will
accept the
offer that
we make. These
depend on
the individual
criteria of
the case.
The key factors
are:
1) The
amount owed
in full.
2) How
much is
offered
as a lump
sum payment.
3) Your
individual
circumstances,
both before
and after
the release
of the funds.
Gemstone
will always
keep you informed
about the
state of negotiations
with the Creditor,
and no proposal
will be submitted,
before first
gaining your
approval.
Gemstone would
be acting
fully on your
behalf, therefore
costs for
the service
are payable
by you, however
you will only
get charged
for the service
if you are
benefited
by it. Gemstone
will also
incorporate
the fee within
the settlement
process; hence
you get more
for your money.
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