Dell Financial - How do I negotiate my debt?

I have heard that they can be awful to deal with. If it has been a long time since you made a payment to them, they'll be more apt to settle with you. That has been my experience.

Has the account been turned over to an outside collection agency, or does Dell still have it in-house?

I would figure up what the actual amount you owed before defaulting and having all of the fees and charges tacked on. Once you get that figure, come up with your settlement offer from that.

I don't know that asking them to reopen the account would be a good idea, that may bite you in the butt. Mainly, because I would be amazed if they would actually re-age the account and remove all of the fees and late payment reports to the credit bureaus.

The account was opened in 6/1/2002. Last payment was 04/2005... Unfortunately I don't know how much I owe without fees because I don't have any statements stating the actual amount that I charged.

I wonder if I can still log into my account.... Hmm.

I can log into my account but I can't review statements or anything.... It is all too old.

Well, come up with a figure that you can afford and offer that. Tell them that you really want to settle the account, and this is what you have to offer. They might say no, or counter-offer with a higher number. Just stay firm and tell them that unfortunately, this is the amount you have to work with, and if they won't accept it, you have other debts to settle and will have to move on to another creditor.

I don't know that you have other debts, but thinking that you may pay someone else might make them more apt to settle with you. If they agree to a settlement, make sure you get something in writing to show that you have settled and satisfied the account.

Ok. Thank you... Atleast I know where to start with them. Should I ask them what the principle is and go from there or just start out with a clear amount that I want to settle at?

Have in mind what you want to offer, but you can ask them what the principal is. I offered a settlement of 40% of the principal of what I owed, and both the creditors took it.

Just don't let them tell you they can't work with the range of the settlement you can afford. Like I said, if they want to get something rather than nothing, they'll play ball.

I think that Tiffany is right if they want to get any money they are going to have to be flexible. Just make sure whatever you do you get the agreement in writing for your records.

ladybug

Before any of this why don't u try to send them a debt validation letter and ask about the amount owed and how they came to this amt. That might help u to come up with a figure to offer them!
Good Luck,
Ang

Tiffany and Ang make some good points. You don't want to committ to something you can't afford just to please them. Also, you don't want the account to be re-aged because it will take longer to come off of your credit report. A DV letter is a great option. :-)

I am in this situation. I can log on and also cant view my current statements...you can view your archive of statements including the last one sent though. I simply called them up and explained my situation. They asked me my intentions toward the balance. I told them the truth..i had every intention of paying what i owed if they could work with me. I also mentioned i was trying to stay out of bankruptcy. They are willing to work with me. My balance is just a little under yours. We are working out a payment plan to get me current at the moment. I did the same thing with my credit card and they worked out a payment plan also. Dell was very clear to me that they will not deal with consolidation companies though they were willing to work with me.

THat's great Glenda that they are working with you at least. How long was it since you had last paid them previously?

I'm glad to see this was posted on October 4th for I need some help as well with Dell financial and I didn't want to start a new thread. First of all I sure hope that Dell works with you on your mounting debt. I would figure that they would want a little bit of something rather than the hassle of sending CAs to the challenge.
I was wondering if anyone had this experience and any advice would be nice.
I am current on my Dell account, but like so many others who have posted my principal b alance is seemingly going no where. I was in my first year of graduate school and needed a desktop and got one for $1100 and Dell financed me.
Now my balance is like (and this is a good 5 years later) well over $800 and my apr is through the roof. I've been late a couple of times in my history with Dell but for the last 2 years have been current and pay more than the minimum. For instance I pay $35 but only get $8 toward my principal :( so I called Dell (better late than never i guess) because I didn't receive a bill from them. there they worked with me to extend my due date and gave me the address to send the payment. what they would not work with me on is lowering my apr. I explained that I do not have a job and the representative said that I don't qualify for lower interest payments. what can I do if anything? :( I mean it'll take me years to pay this thing off. No more Dell for me!

i was about 5 months behind

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I really agree with this. I do all my calls through ip-relay (im deaf). What the person im calling doesnt realize is that i have the ability to print out every conversation through ip-relay and have been doing that with everyone.

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Opps, that was my post above! Didn't realize I wasn't logged in. :oops:

Forgot to mention that yes, I am a member of his website. $9.95 a month. But I may cancel that soon, once I get a bit more on track with my plans.

GOOD NEWS!!! I have been calling Dell and leaving them messages asking for account info such as principle owed etc with no response from them. Today I was checking my credit reports and noticed that Dell dropped off the report! I don't know why it did that (not due to be removed, did not dispute it etc) but I don't really care!!!

I was so grateful for all of the posts. I was trying to figure how to settle with Dell financial and I feel like I have a place to start now. I have had my laptop for over three years. I now owe more on it then I did when I got it. To make it even worse the laptop doesn't even work anymore, I was told that I need a new mother board to make it work. Not to mention if I look on Ebay I can find my exact computer for under 200 bucks when I own close to 2,000. Makes me sick to my stomach. I wish I didn't think I knew everything when I was younger because I am certainly paying for it now.