questions DIY process
Date: Sun, 01/24/2010 - 00:05
Thank you for those hints and encouragement for Do It Yourself experience post. I have $25,000 unsecured debt. I am 2 month behind, and getting harassing calls everyday. I am thinking to try to settle by myself. I have some questions about before and after the settlement when it is done by myself.
1) Do they usually:
* settle around $400? I have couple of card has around $400 in addition to some thousands. I would prefer not to pay even those small ones in full.
* agree installment payment for settled amount?
* agree to give me " o" balance or " paid as agreed" when being paid, if debtor request.
2)Is this possible senario?
* request settlement by myself,
-> They might settle by 20%
-> hire a settlement agencyfor more reduction of the rest of the amount
3)Is this possible senario?
* hire a settlement agency
-> Settlement company won't pay them couple months, so I send settlement request to creditors by myself to stop they raise penalties on my account.
Please share your opinions
1) Do they usually:
* settle around $400? I have couple of card has around $400 in addition to some thousands. I would prefer not to pay even those small ones in full.
* agree installment payment for settled amount?
* agree to give me " o" balance or " paid as agreed" when being paid, if debtor request.
2)Is this possible senario?
* request settlement by myself,
-> They might settle by 20%
-> hire a settlement agencyfor more reduction of the rest of the amount
3)Is this possible senario?
* hire a settlement agency
-> Settlement company won't pay them couple months, so I send settlement request to creditors by myself to stop they raise penalties on my account.
Please share your opinions
Well, the settlement amount that you must expect would depend on
Well, the settlement amount that you must expect would depend on your ability to negotiate with the creditor. Different creditor may take different approach towards settlement and it is hard to confirm a fixed amount like the one you have mentioned.
If you can, you must do it yourself. You can thus save the amount that you'd need to pay to the settlement company as fees.
