I have received a debt settlement letter and the r

How far behind are you? Also, just curious, are the percentages the opposite of what you listed above? Seems odd they'd give you a discount for NOT paying in a lump sum.

The settlement offer is good. If you really owe the debt, then you can take up the offer. However, it is your discretion as to which one to choose. Usually, debt settlement allows you reduce the owed amount by 40% to 60%. So, I don't think they will agree to reduce the debt amount more than what they have already offered you.

I would respectfully disagree. Depending on the circumstances and the degree of delinquency, a 40% offer, and certainly a 50% offer, is not good in my book. For example, BofA settled with many for 15%. OP has provided little or no information, however, to get more than the most general feedback, and would need to be a LOT more specific to get concrete advice.

15% really?never heard of any settlement that low.the lowest i heard of is 20%.i do agree that we need more info but please don't throw numbers out like gospel without actual proof to back it up.

Please don't try to censor me. Thank you. I will provide any information I know to be true, and whether you choose to believe it of no consequence.