settlement

Hi!
Welcome to the forums!
Can you please give more details? Otherwise, it is very difficult to answer your question.

I am thinking that the OP wants to know if you tell the creditor that you will settle for a percentage rather than giving them a dollar figure. ie. You say I will pay 20% or should you say I will pay $4000...whether they are the same amount.

I HAVE YET TO SETTLE ANYTHING....But my thought process would be to stick to a dollar figure. I wont bring up ANY percentages to them...I am going to talk strictly in dollar figures and say...well I have $4,000 that I can come up with but that is all I have...I think that if you tell them a percentage amount...you are going to look like you have planned the whole thing out. THINK in percentages...but DONT talk in percentages.

Any other opinions??

It will depend upon your creditor as to what amount he will settle for. You will have to negotiate with the creditor mentioning the percentage of the amount that you'll be able pay him. If the creditor agrees to it, then he will accept your payment. You can check out the given page in order to know the steps to settle the debts on your own:
http://www.debtconsolidationcare.com/steps.html

We always had a dollar amount that we settled for, in the letter. In negotiations, I always used in terms of a percentage. I don't think it matters in the end.

I would go with dollar amount. I would offer a dollar amount as settled in full. They should write a letter to you including the dollar amount and account number. The letter should be signed, dated and on their letter head. The letter could also state a percentage but a percentage by itself is ambiguous. Likewise, you could offer a percentage but the dollar amount is the key. The better tactic is to offer the amount you are willing to pay and when they try to counter come back with that is all you have and if they don???t want it you will offer it to your other creditors.