Solve Debts Sees Increased Flexibility by Debt Collectors

San Francisco — Solve Debts, a debt resolution company located in San Francisco, California is noticing an interesting trend taking place in the debt settlement industry. As the economic recession continues, Solve Debts is seeing increased flexibility from debt collectors who were usually reluctant to forgive significant portions of outstanding debt in the past.

Due to unprecedented levels of consumer debt, may collection agencies and lenders are now more willing to stretch out payments and even forgive anywhere from 20% to 60% of outstanding balances owed by borrowers.

“Banks and credit card companies are trying to protect themselves from a wave of defaults that are taking place,” said Andy Creager, director of Solve Debts San Francisco, California. As a result, consumers are now is a good position to negotiate with their debt collectors or lenders,” he added.

Solve Debts says not all creditors are quick to forgive debt, but the trend is increasing towards much better terms for consumers. In the current economic environment, lenders realize that something is better than nothing and are hoping to avoid complete losses altogether. Most, however, are reluctant to admit they will accept less than the full payment, mainly for the fear of encouraging others to stop paying debts that are still in good standing.

Solve Debts is suggesting consumers to consider a debt settlement firm to help negotiate on their behalf. Even though lenders are becoming more flexible, they still are going to want to recoup as much money as possible,” warns Creager. “It is helpful to have someone experienced to negotiate these new terms.”

For more information, visit Solve Debts San Francisco, California at http://www.solvedebts.com.

About Solve Debts
Located in San Francisco, California, Solve Debts is a member of The Association of Settlement Companies (TASC) and offers solutions and programs to Americans looking to get out of debt. With its main offices California, Solve Debts uses a multi-faceted approach to assist clients to become free from credit card companies and other unsecured debtors in a relatively short period of time. For more information, visit http://www.solvedebts.com or call 1-800-390-2805.