Negotiation for Debt Settlement

Kazlow & Tucker offers a debt-negotiation program for consumers who have a significant burden of unsecured debt. Our certified debt mediators negotiate with creditors on behalf of our customers to reach an agreement to settle their unsecured debt for less than they owe. After customers fulfill the terms of that agreement, the creditor is expected to notify credit-reporting agencies.

When you enroll in our program:

• Our team will consider your budget needs to determine how much you can afford to pay each month toward settling your debt.
• Your payments will go into your own third-party trust account, which only you have access to; the credit card company cannot touch these funds. You may access this account at any time from this Web site to check your account balance.

The following steps will then be taken:

• Once enough money is in your trust account, we will inform one of your creditors that you have engaged us to negotiate a debt settlement.
• We will then negotiate with that creditor to reach a settlement agreement regarding your debt.
• Upon reaching an agreement, we will obtain the creditor’s settlement offer to you in writing.

Once you agree to the offer and authorize payment to that creditor, the amount to which you and your creditor agreed will be paid from your trust account to that creditor. We will repeat this process for each unsecured debt you assign to our debt-negotiation program.

As long as you are in Kazlow & Tucker’s debt-negotiation program, we will work for you—not for your creditors, but for you. Our debt-negotiation team has many years of experience successfully settling debts for over-indebted consumers, and they are ready to do the same for you.

Why would a creditor consider agreeing to settle for less than a debtor owes?

Simply because if the only other alternative for that debtor is bankruptcy, then the creditor stands to lose even more.

Important Considerations Before Entering A Debt-Negotiation Program

• Kazlow & Tucker may not reach agreements with your creditors to settle your debts for several months. In the meantime, your creditors may increase their collection efforts.
• During this process, your unsecured debt will become delinquent. In addition, late fees, penalties, and interest may continue to accrue; and your creditors may sue you, raise your interest rates, and/or report your debt delinquency to credit bureaus, which may harm your credit rating.
• If your creditors do agree to settle for less than what you owe them, you may be liable for federal and state taxes on the amount you did not pay. Seek the advice of your own attorney regarding whether you may seek relief by filing IRS Form 982, “Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment).”
• Creditors who settled for less than the full amount of your debt may report to credit bureaus that your debt was “paid with a zero balance.”