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Posted: Tue May 13, 2008 11:11 am Subject: working with a debt cc

Can I negotiate with my creditors the way a debt counselor would? I have read that using a service like this does not show favorably and even after paying the debts it may be almost impossible that others will extend you credit, it that true?

Posted: Tue May 13, 2008 11:32 am Subject:

Do you mean debt settlement not debt counseling?
You most certainly can negotiate with your creditors. The thing that hurts your credit is allowing the accounts to become delinquent and this is what a settlement company wants. It gives the impression that you are unable to meet you financial responsibilities and makes the creditor willing to settle for less. Rather then not get paid at all.
There are sample letters in the “do it yourself” section that you can use to request validation and to make offers. It will take time and effort but just keep a good paper trail and you should be able to do most anything yourself.