How do I bring up settlement?

Date: Fri, 10/30/2009 - 11:04

Submitted by anonymous
on Fri, 10/30/2009 - 11:04

Posts: 202330 Credits: [Donate]

Total Replies: 4

My husband and I are just starting out on our own debt settlement journey. We stopped paying as of October 1st. Of course we have been getting a lot of calls, and I have just now started talking to them to keep them from constantly calling. I tell them we just had a baby and therefore a lot of medical bills, and our house payment recently went up by $600 a month due to taxes (all of which are true).
My questions are:
(1)At what point do I start bringing up settlement?
(2)Aren't the creditors just going to say "if you have money for settlement, why can't you just make your monthly payment?"
(3)What should my answer be for question #2?

Please help, as we are very new to this game. This website is great and it makes me feel better that there are people just like us that have gone through the same situation and are there to help.

Thanks!

call the AZ Attorney General's office and let them know what a p

call the AZ Attorney General's office and let them know what a problem you are having. DO NOT GET MESSED UP IN THIS

lrhall41

Submitted by on Fri, 10/30/2009 - 11:58

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[SIZE=3]One effective way to negotiate is to tell the agent that

[SIZE=3]One effective way to negotiate is to tell the agent that you have a ???Friend??? that is willing to loan you a certain specified amount of money but his/her requirement is that it must be used to settle the account in full and your ???Friend??? will not loan you the money under any other circumstance. Basically, you would be implying that you do not have the money but a ???Friend??? is willing to loan you the money only under set conditions. This is a good tactic to argue against them questioning why you don???t make the minimum if you have the money to settle. In the above scenario you don???t ???have the money??? and you are only ???borrowing??? it. On a side note, generally you have to miss a few payments before they will even consider settling. [/SIZE]

lrhall41

Submitted by DOLLARSandSINCE on Fri, 10/30/2009 - 13:44

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Why would I call the AZ Attorney General's office? Why are you s

Why would I call the AZ Attorney General's office? Why are you saying not to get messed up in this? Do you know something I don't?

lrhall41

Submitted by on Fri, 10/30/2009 - 13:51

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alot of people get scared when it comes to debt settlement becau

alot of people get scared when it comes to debt settlement because of what can happen. you can get sued. but its not the end of the world and if you play your cards right it will most likely not happen. give it usually around 90 days before you really discuss settlement they usually wont till then. dollars n sense has it right. state your borrowing the money from someone and get the negotiations begin. start out very ridiculasly low and they will most likely counter and go from there as to what you can afford.

lrhall41

Submitted by love_my_things on Mon, 11/02/2009 - 11:45

( Posts: 1434 | Credits: )