M.T.A. and Workers Shun Confrontation
The Metropolitan Transit Authority and the Transport Workers Union have not been able to complete a new contract and agreed instead to go to binding arbitration.
With Mediator, Boeing and Union to Renew Contract Talks
Negotiations to end a 45-day machinists union strike against the Boeing Company will resume with a federal mediator in Washington, D.C.
Mr. Mugabe’s Latest Betrayal
It will take a lot more international pressure to force President Robert Mugabe of Zimbabwe to respect a power-sharing deal with Morgan Tsvangirai.
Former Finnish President Wins Nobel Peace Prize
<a href="http://www.nytimes.com/2008/10/11/world/europe/11nobel.html?partner=rssnyt&emc=rss"><img src="http://graphics8.nytimes.com/images/2008/10/11/world/11nobel_75.jpg" border="0" height="75" width="75" hspace="4" align="left"></a>Martti Ahtisaari has worked to end conflicts in troubled spots around the world for more than three decades.
Companies Unlikely to Use Arbitration With Each Other
This week, the Supreme Court will hear arguments in a case about the enforceability of arbitration agreements.
Zimbabwe Rivals Strike a Bargain to Share Power
It was unclear what a deal between the opposition leader Morgan Tsvangirai and President Robert Mugabe entails.
Study Finds Settling Is Better Than Going to Trial
<a href="http://www.nytimes.com/2008/08/08/business/08law.html?partner=rssnyt&emc=rss"><img src="http://graphics8.nytimes.com/images/2008/08/08/business/lawsuit75.jpg" border="0" height="75" width="75" hspace="4" align="left"></a>A study of civil lawsuits has found that most of the plaintiffs who decided to pass up a settlement offer and went to trial ended up getting less money.
Swimmer Pulls Out, Upsetting Her Rivals
<a href="http://www.nytimes.com/2008/08/02/sports/olympics/02swim.html?partner=rssnyt&emc=rss"><img src="http://graphics8.nytimes.com/images/2008/08/02/sports/olympics/02swim.75.jpg" border="0" height="75" width="75" hspace="4" align="left"></a>Jessica Hardy withdrew from the United States swim team, declining to pursue an appeal after a failed drug test.
Change in Arbitration Panels Will Allow Investors Only
Investors who think they have been wronged by brokers will be able to have their cases heard by panels consisting only of their peers, with no industry participants.
Talks to Start on Zimbabwe Crisis
South Africa is hoping to convene negotiations between Zimbabwe’s feuding political parties on Tuesday, one day after their leaders met face to face.
Zimbabwe Rivals Tentatively Begin Talks on Political Crisis
The talks between President Robert Mugabe’s ruling party and the opposition are preliminary, but their start is a victory for South African Thabo Mbeki, the regional mediator.
Qatar, Playing All Sides, Is a Nonstop Mediator
In an increasingly divided Arab world, the Qataris have fashioned a reputation as independent arbitrators.
Complex Ties Lead Ally Not to Condemn Mugabe
<a href="http://www.nytimes.com/2008/06/27/world/africa/27mbeki.html?partner=rssnyt&emc=rss"><img src="http://graphics8.nytimes.com/images/2008/06/27/world/zimbabwe_7575.jpg" border="0" height="75" width="75" hspace="4" align="left"></a>South Africa’s president, Thabo Mbeki, is convinced that he can resolve the Zimbabwe crisis through patient negotiations with Robert Mugabe.
Canada Offers an Apology for Native Students’ Abuse
<a href="http://www.nytimes.com/2008/06/12/world/americas/12canada.html?partner=rssnyt&emc=rss"><img src="http://graphics8.nytimes.com/images/2008/06/12/world/school.75.jpg" border="0" height="75" width="75" hspace="4" align="left"></a>The Canadian government apologized for forcing about 150,000 native children into government-financed residential schools where many suffered physical and sexual abuse.
Israel Holds Peace Talks With Syria
The governments confirmed that Israel and Syria have begun indirect peace talks, mediated by Turkey, aimed at reaching a comprehensive accord.


of your hardship. Believe it or not, creditors are human. If your enrollment in a debt settlement program is the direct result of circumstances that you could not control (divorce, medical issues, job loss) and you can document it, then you’re far more likely to get a favorable settlement versus a person who the creditor feels could have paid the debt back in full. If you’re buried and only able to afford the minimums, but it was more the result of poor budgeting than financial hardship, it’s still likely that you’ll be able to obtain a settlement. Had you just been diagnosed with brain cancer the settlement would probably be a lot more favorable and the negotiations process a whole lot easier. Sympathy still goes far these days.

4. The importance of your recent account activity. This plays into your hardship in a sense because it’s all about whether the creditor feels you’ve been fraudulent in your business with them. For example, if you just bought a plasma TV on your credit card a month ago, I’d think twice about doing debt settlement. If the creditor doubts that you ever had any intention of paying them back, then the negotiations over your debt are most likely going to fail. In the end that means you’ll be stuck in court paying back a debt that’s even larger than original balance because of the late fees and interest charges that were tacked on during the course of your debt settlement program.

5. The importance of your credit history. More specifically, if you’ve filed Chapter 7 Bankruptcy in the past 7 years, you may be out of luck. The main draw of debt negotiation for creditors is that they can recover a substantial portion of a bad debt that otherwise could and/or would be completely wiped out by bankruptcy. Unfortunately, if you’ve filed bankruptcy in the past 2 years, then you can’t file again for another 5 years, so a creditor loses some of the incentive to negotiate a balance. That is, in their mind, they’re saying, “This person can’t file bankruptcy anyway. What do I gain by lowering their balance?” That being said, even if you have filed bankruptcy in the past 7 years, a settlement can still be reached in most cases. Why? There are two reasons: a) a lot of times a creditor won’t be able to collect the debt from you anyway because you don’t have any assets or sufficient income, and b) having 50 percent of the balance in one lump sum is attractive when it means the creditor doesn’t have to waste time and money chasing you down. Finally, the longer it’s been since you’ve filed, the stronger your negotiating position is. In other words, if it’s been 6 years since you’ve last filed, then the time line when you’re eligible for bankruptcy again is too short for most creditors to risk potentially losing everything by refusing a settlement.

Article Source: http://articlecrazy.com

Robert Zangrilli is the CEO of a debt settlement and debt reduction company.

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