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What is the correct way to negotiate with creditors?

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I will start negotiating with my creditors soon. I have some medical bills and credit card bills. I have not made a single payment in the past 2 years. I have received settlement offers from some of my creditors. They have offered to cut down the outstanding balance by as much as 65 percent. I’m new to all this. So, my first question is, will I have to negotiate with all my creditors at once? Should I ask my other creditors to make similar settlement offer? How can I be sure that my accounts have not yet been charged-off? I live in Oakhurst, CA if this piece of information helps in any way. Is there any special rules and regulations in the state which I need to follow?




If your accounts havent been paid on in years you can be assured that the debts have been charged off...that usually happens after 180 days or six months. They are more than likely in collections and if they are offering settlements, take the settlement or call in and negotiate a lower one.


Which credit cards do you owe??


Sub: #1 posted on Fri, 05/10/2013 - 05:24

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