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Steps to negotiate your debt Work with a credit counselor. Enroll in a debt management program. Try various debt payment strategies like the snowball method. Ask the creditor for a payment deferment. Ask for a lower interest rate. Consider a debt consolidation loan.

Process Find the Notice of Cancelation form in Your Debt Relief Agreement. Sign and Date the Cancelation Form. Fax Cancellation Form to 1-866-460-5541 or scan and email the cancellation form to service@nationaldebtrelief.com. Follow up on cancellation requests by calling the office at 888-660-7427.

Accredited Debt Relief helps clients settle their debt for a lower amount than they owe. Debt relief isn't right for everyone, as it requires stopping payments on your debt and is likely to negatively impact your credit score.

It allows you to pay off debts for less than what's owed. If your creditor agrees to a debt settlement, any remaining balance is canceled. This is effectively a type of debt forgiveness, since you don't have to repay anything more than the agreed-upon settlement amount.

If you stop making monthly payments to your debt management plan, you will be removed from the program and your rates will shoot back up to their previous levels. Some plans will drop you after missing a single payment, while others may be generous enough to allow up to three missed payments.

To do so, call customer support and make the request. The consequences for removing a credit card account from a debt management program are similar to those of canceling a program, though possibly not as severe. Credit counselors encourage you to put all your credit card accounts into the program.