Internet's first get-out-of-debt community - 134,000 members

georgiep · Posted: Fri Jul 20, 2007 8:07 am Subject: debt negotiation

After an attorney negotiates your debt down do you still pay the creditor or are they paid out of the money you pay the attorney?

Posted: Fri Jul 20, 2007 6:17 pm Subject:

The debt negotiation company will open an escrow account where you will put in the monthly payments. During this time, they will be negotiating with your creditors for a lower pay off. It may take some time until your proposals are accepted by the creditors. Once it’s done, funds from your escrow account will be used to clear the debt

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