Michael Nikoley
I have been with Provanta for almost ten years. I have worked in just about every position possible from client services, negotiator and sales. For the past several years I've been the I.T. manager and most recently stepped into internet marketing.

mn@provanta.com

Grateful Client

This letter is from a Provanta client who finished their debt settlement program.

Dear Sir / Madam:

I would like to send my appreciation  to all your staff in the Settlement Department for helping to solve my financial problems. All of your efforts has help to relief some of my stress.

Thank You.

Yours Truly 
Jane

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Weekly Settlement Statistics

Monthly Settlement Statistics

Weekly Settlement Statistics

How Would You Like $55k of Debt Settled for $8,400

Our client was overwhelmed with joy to hear that two of his major credit card accounts totaling $55,267.00 had been settled for a total of $8,400.00 only 15% of the amount owed.

Best of all, these were his last 2 accounts to be settled.

Congratulations on a fresh start for the New Year!

Ref. 1540

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Weekly Debt Free Clients

Total Debt Free Clients October 6 - October 10, 2008

• Total Clients Debt Free -2
• Total Debt Settled - $83,669
• Settlement Amount - $19,999
• Savings - $63,669
• Average Percentage of Settlements - 32%
• Average Program Length - 24 months
• Best Settlement - 15%
• Worst Settlement - 72%

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Weekly Settlement Statistics

Total for the week of October 6 - October 10, 2008:

• Total Debt Settled - $180,544
• Total Settlement Amount - $56,604
• Settlement Percentage - 31.4%
• Total Cases Settled - 23

Best Settlements:

• Current Claim - $41,077
• Settlement Amount - $12,000
• Percentage - 29.2% (negotiated with a original creditor)

• Current Claim - $26,477
• Settlement Amount - $4,000
• Percentage - 15.1% (negotiated with a original creditor)

• Current Claim - $28,790
• Settlement Amount - $4,400
• Percentage - 15.3% (negotiated with a original creditor)

Worst Settlement:

• Current Claim - $6,917
• Settlement Amount - $4,150
• Percentage - 60% (negotiated with an original creditor)

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Weekly Debt Free Clients

Total Debt Free Clients September 29 - October 3, 2008

• Total Clients Debt Free - 1
• Total Debt Settled - $23,755
• Settlement Amount - $9,047
• Savings - $14,707
• Average Percentage of Settlements - 38%
• Average Program Length - 72 months
• Best Settlement - 28%
• Worst Settlement - 60%

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Weekly Settlement Statistics

Total for the week of September 29 - October 3, 2008:

• Total Debt Settled - $92,500
• Total Settlement Amount - $42,919
• Settlement Percentage - 46%
• Total Cases Settled - 22

Best Settlement:

• Current Claim - $1,886
• Settlement Amount - $535
• Percentage - 28.4% (negotiated with a original creditor)

Worst Settlement:

• Current Claim - $1,055
• Settlement Amount - $738
• Percentage - 70% (negotiated with an original creditor)

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Settlement Offers

A Provanta negotiator offered $3,801.25 to settle on a $11,155.00 delinquent account.  Do to previous dealings with this agency the negotiator was sure her offer would be declined, but hoped they would counter within Provanta’s guidelines.

Today the negotiator received a call declining her offer and a counter offer of $8,373.25 was given.  We declined the offer based from our clients financial situation.

Within ten minutes another representative from the same office called back stating she had spoke to her manager and the best she could settle for was $4,500, over three payments.  Since it was within our guidelines we were able to accept the offer, however it was a little shocking to see an offer decrease by $3,873.25 in a matter of minutes.

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Great Settlement

A Provanta Debt Settlement client came to us in 2006 with a outstanding balance owed to a major credit card company of $45,055.00.  The current balance with interest and late fees was $57,388.00.

After reviewing the clients hardship and total debt amount the agent was willing to accept the $12,008.00 offer our negotiator presented.  That’s only 26% of the original balance and 20% of the current balance.

Ref. 1534

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Keep Trying

A representative from a credit card issuer presented a Provanta negotiator with an offer of settlement.  The agent said, “The first offer I can make is $569.00,” which is 90% based off the balance of $632.00.

Our negotiator picked up on the words, “first offer,” that that the agent choose to use.  This lead our negotiator to believe she could offer a lower settlement.  The negotiator declined the offer and asked if that was the lowest she can go at this time.

The creditor came back with $506, or 80%  of the balance.  Again our negotiator advised the agent this was too high for our client.  The agent gave another offer of $442.  This continued on until she got down to her bottom line offer of $379.02, or 60% of the balance.

Considering this account started off with a balance under $1,000  this is a reasonable offer that will be presented to our client.

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Weekly Settlement Statistics

Total for the week of September 22 - September 26, 2008:

• Total Debt Settled - $154,650
• Total Settlement Amount - $86,659
• Settlement Percentage - 56%
• Total Cases Settled - 31

Best Settlement:

• Current Claim - $9,752
• Settlement Amount - $2,438
• Percentage - 25% (negotiated with a original creditor)

Worst Settlement:

• Current Claim - $5,137
• Settlement Amount - $3,853
• Percentage - 75% (negotiated with an original creditor)

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Weekly Debt Free Clients

Total Debt Free Clients September 22 - September 26

• Total Clients Debt Free - 1
• Total Debt Settled - $54,565
• Settlement Amount - $23,004
• Savings - $31,560
• Average Percentage of Settlements - 42%
• Average Program Length - 48 months
• Best Settlement - 20%
• Worst Settlement - 70%

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Weekly Debt Free Clients

Total Debt Free Clients September 15 - September 19

• Total Clients Debt Free - 2
• Total Debt Settled - $186,477
• Settlement Amount - $89,477
• Savings - $97,012
• Average Percentage of Settlements - 48%
• Average Program Length - 34.5 months
• Best Settlement - 19%
• Worst Settlement - 78%

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