Court Martinez

Debt arbitration is the process of negotiating a lump sum payment settlement on a personal debt, generally at a considerable discount. It is also known as negotiation or settlement and is an efficient way to settle your debts without declaring bankruptcy. Creditors are also open to this option of loan elimination as they can collect the payment as a one-time settlement and they can recover more of the dues than when the debtor files for bankruptcy.

Debt arbitration is different from credit card counseling. Debt arbitrators reporting are independent individuals who negotiate with creditors to settle a person's loan through a one-time settlement on unsecured loans unlike credit card counselors who help to change spending habits and create long-term goals for credit repair.