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Debt settlement

Date: Tue, 07/20/2010 - 13:20

Submitted by anonymous
on Tue, 07/20/2010 - 13:20

Posts: 202330 Credits: [Donate]

Total Replies: 4


A collection company has asked that I settle an 8600.00 debt for 2200.00 which is a great deal for me however they want all of the money up front, if I had that kind of money I would have already paid this because I know what a great offer this is. What should I suggest to them to hopefullt get this settlement without all of it up front?


Quote:

Originally Posted by SOAPLADY
A settlement by definition is a one time lump payment. Anything else is a payment plan.


I disagree: A settlement is an agreement to resolve a dispute and the terms do not require a specific format.

Many of my settlements were in payments and were certainly not anything other than settlements.


lrhall41

Submitted by dantheman on Tue, 07/20/2010 - 18:56

( Posts: 860 | Credits: )


A settlement doesn't mean that you've to pay your debts as a one-time payment. Call the collection company and say that you're really interested to pay off your debts. Try to negotiate about the payment plan. Tell them you're sincerely looking forward to pay off this debt but you'll not be able to pay it in a single payment.

Since collection companies don't want their customers to default, they might agree and help you out with a better repayment plan.


lrhall41

Submitted by paulcahill80 on Wed, 07/21/2010 - 02:18

( Posts: 2359 | Credits: )