It is highly recommended to use an experienced and well-connected Debt Negotiator, who has a clear understanding of the law and what is needed to succeed in an informal agreement. At Debt Negotiators, we have the connections, experience and knowledge to help you develop and propose an informal debt agreement. We also have the know-how to help you evaluate your options so you can choose the best debt solution for your current financial situation. Informal agreements have flexible repayment options to meet a large number of different circumstances. As with a formal agreement, your negotiators can implement a multi-year repayment plan. Unlike other types of formal agreements involving some form of legal action, an informal agreement does not negatively affect your creditworthiness. Not only will it free you from those annoying phone calls, but it will also help you pay off your debts faster. Informal debt negotiations are outside the formal system. In formal processes such as bankruptcy, your credit will be reduced and you may find it difficult to borrow in the future, while informal agreements will help you both now and in the future. ReVIVE Financial recommended an informal agreement for Sharmane. They could negotiate with their creditors to accept a payment of $670 for their unsecured debts every two weeks.