Keep this as professional as possible.
There are Attorneys and Debt Settlement Services that can help you with your negotiation if you prefer not to do it yourself.
These professionals are knowledgeable in their field, but their help can be expensive and unnecessary when small amounts of debt are to be negotiated. Debts that are considered good candidates for settlement negotiation include: Things to keep in mind when negotiating debt settlement: Avoid negotiating over the phone with your creditor.
Make it clear to the creditor that you intend to pay the debt.
Explain that you are unable to pay the debt due to detail your hardship. Begin your negotiation outrageously low, the creditor will counter your offer or, if you are lucky, might accept it.
Get your terms in writing before you send any payments. Send your debt settlement letter via Return Receipt Requested Keep a copy for your records. Agree to send them cashiers check only after you receive their letter of agreement to free up your credit. Request a deletion of their statement to your credit company.
If the information is not deleted it really does not help your score to pay it of the debt.There is a “hidden” component to the real estate and financial crisis, and it gets very little attention by the media.
I’m referring to the problem with second mortgages on homes that have lost market value during the real estate crash.
During the debt settlement negotiation process, a letter requesting a lump sum settlement may be one of the best ways to successfully land a settlement on your credit card debt.
Most credit card companies are more willing to accept a lump sum because they know that they’ll get paid at least some of the principle money back, as opposed to a .
What is a credit report? Most people already know what a credit report is, but let’s go over the basics real quick just in case. Credit reports are sometimes referred to as “credit files” or “credit history”. The debt validation request is time sensitive. You must make your request in writing within 30 days of the debt collector's initial contact with you.
If you wait more than 30 days, your validation request may not be covered under debt collection law. In my experience it is possible to remove collections from your credit report.A collection entry on your credit report, including medical collections, can severely lower your credit score and in many cases prevent you from obtaining a mortgage or auto loan.
Information on how to write a debt settlement letter, debt settlement offer, credit card debt settlement, debt negotiation, debt settlement companie DEBT SETTLEMENT LETTER SAMPLE Writing a good debt settlement letter is essential for a favorable outcome when negotiating with your creditors.