Negotiate a Debt Settlement

does debt settlement service which negotiate your total debt down to 40% and get 15% fee an honest service ? there are many companies that offer this service, they will contact the credit card company that was owed and negotiate the settlement amount up to 40% of the total debt, you pay 15% of the original amount. Is this a real service or is it a scam to hook you in , get 15% of your money then run ? thanks

I would like to negotiate debt settlements and get them to show paid as agreed, is there an agency that can? I have heard that it can be done as part of the settlement, I just haven't had any luck finding any company that will negotiate the change in report status as part of the agreement. I am more concerned with my credit score right now. I am very close to qualifying for a mortgage and this would put me over the top.

How can I negotiate my own debt settlements with creditors without using a "debt settlement" company? unsecured debt; collections accounts

Can you negotiate settlement on credit card debt? I have credit card debt that I have the money to pay off. However, I heard that credit card companies will negotiate a lower amount, say $2,000 instead of $3,000 in order to get the cards paid in full. 1. Is this true? 2. Does this look bad on your credit report? Or does it even appear? 3. How does this work and how do you go about negotiating with them? Thanks for your time!

Is it possible to negotiate with your credit card companies on your own for debt settlement? I've been researching debt settlement programs and they sound like a good option. Has anyone been able to negotiate with CC companies on their own to avoid the several thousand dollar fees?

Can you negotiate a settlement with a debt collector after being sued by them? I have already received a petition from the court. I can't afford a lawyer to handle so I want to do the right thing and get this taken care of without going to court or having my wages garnished. Please help :(

How can I negotiate my own lump sum credit card debt settlement? I owe a large amount on my credit card and have not made a payment in sometime. I now have a lump sum of money and wanted to see if the cc company would negotiate on the amount owed. Much of that amount is late fees. Can anyone help me?

Is it better to negotiate past due debt with a credit card company yourself or hire a debt settlement company?

How will negotiating a settlement for debt owed affect my credit? I am very deep in debt, mostly on one credit card. Should I hire an attorney to negotiate a settlement for me with the bank? If so, how will this affect my credit score? I care about my credit because I would like to buy a condo within the next year or two.

I have recieved summons over a credit card debt. Is trying to negotiate a settlement my best option? What are my chances of settling at a lower amount? With over 25% in interest the amount is over $8000. What would be a good target for negotiation? Also the lawfirm involved is about 4 hours away from the court location. If They don't show up, can this be dismissed?

How do you negotiate a debt settlement? Arrow Financial attorney's served me with a legal summons. I am being sued for $2, 500 plus $500 in legal fees. I am hoping to settle out of court, but I am unsure what a good settlement amount would be. Should I go as low as 2,000 or even lower? Also, how do I go about asking them for a LOWER amount? Help please :] Arrow Financial bought the debt from a credit card debtor. So it's credit card debt. Will they allow me to pay it back in monthly payments?Or bi-weekly payments? Guys...I don't want to go through a debt consolidation resource. I would prefer to handle this on my own. Thanks

What is your experience negotiating debt settlement yourself with collection agencies? Did you use a form letter like the one below? http://www.creditinfocenter.com/forms/sampleletter6.shtml (Sample letter 6 to use when settling debts yourself with a collection agency)

Can debt settlement companies really settle your debt cheaper or are they a waste of time and money? Could a person negotiate their debt with creditors on their own?

Debt Settlement-Negotiated By Self-Bad for My Credit? I have about 36K in "bad debt" related to medical bills, being poor ect. Now earning decent income, but not enough to pay off my overwhelming debts. I can pay minimums, but fear that I will be stuck in this rut for years and never have the credit/avaialable income to afford a home. Question: Is debt settlement bad for my credit? I have 6K and wonder if I could use this to pay some bigger debts. Not through a debt-settlement corp, but by myself. For example, I have 2 credit cards, each with 5k in debt. I have been paying on these cards for 10 years and have paid them what I have borrowed 3 times over. If I offer to settle now for 50%, would that hurt me? Also, I have an 11k debt related to med bills-I got behind on this, but am in a payment plan. Previous to payment plan, I was offered to settle the 11k+ debt for 5,600 hundred. Is this bad for my credit? It would save me money and free up more to pay other debts (400 per mth) What do I do? I'm sorry. I'll be more specific. My question is not about *how* to settle, but rather, if settling debt for less than what I currently owe would *damage my credit*.

How do I negotiate small, old collection accounts? I have 8 small, old collection accounts that are haunting me! How can I negotiate a debt settlement with small, old accounts?

Cred card debt settlement.? Is it ture that I can call my credit card company and negotiate a debt settlement witch will reduce my debt with them? How does this work and how do I do it. I have a 5000 dollar debt with this card and it hasnt gone down at all with the payments Ive been making. Can i request a lower intrest rate too? Help

what if I am not happy with debt settlement company? It seems like they dropped the ball. Can I stop paying the blance of the service fee and negotiate with the creditors by myself? or the debt settlement company still have the right to sue me or something? thanks guys for helping. and again how do i complain to the state commerce dept? and how can I stop paying the blance and possible refund the service from them?

Does anyone know of a good U.S. debt settlement company? I have about $27,000 in bad debt and want to start paying it off. I don’t want a credit counseling program, I want a company that negotiates and settles debts for less then the balances are. I heard that many are rip offs and don’t need any more problems. I have spoken to a few, debt settlement usa; which I have a really bad feeling about because the rep I spoke to lied to me more then once. And the other 3 companies were similar in their answers. Also many of them are only sales people that have been harassing me to enroll. Dont want any more BS! If anyone out there knows a good debt settlement program, please provide a link to the company so that I can find them. Please only serious answers, I only want to hear from people who have experienced service with the company….. Also please tell me if you have hired a company and had a bad experience...

Do you need to pay tax on credit card debt negotiated down? We are trying to negociate 50,000 credit card down to 25,000. Is it true that you need to pay taxes on the amount settled to the IRS. See post below: "Do you have the settlement amount in full? When you try to negotiate settlements, often times you need to have enough funds to make large payments. Additionally, be aware that any "forgiven" debt by the OC is considered taxable income by the IRS"

Debt assigned to a lawyer -- will they negotiate 25% settlement or less with me? I am homeless & on welfare.? The debt was first assigned to a collection agency, then it went to a law firm August of 2006. They have not contacted me in five months.

how should i negotiate a lump sum settlement of a charged-off debt?

Are debt settlement companies a scam? I was thinking of signing up with a debt settlement company but I have heard the debt settlement companies not what they seem. They promise to settle your credit card and unsecured debt for half or less than what you owe. I have heard what they don't tell you is that you usually get sued, get your wages garnished, and that the debt settlement companies over report what they actually save you while charging you a huge fee. In addition, I have heard that your savings are reported to the IRS as income and that your credit report is trashed. Supposedly their seemingly caring sales people are paid high commissions. Apparently you can negotiate with your creditors and be just as successful while saving the thousands of dollars these companies charge you. What I want to know is if all that is really true about these companies and can I actually negotiate with my creditors myself and save thousands in fees. I need the scoop from someone that is honest and knows the truth about these companies

Negotiation tips for debt settlement? I'm about to negotiate with a collector on a debt. I want to either make monthly payments or a reduced lump sum. What's the best thing to say to the collector (without blatant lying) that'll make the collector more agreeable? Also, what is the best time of the week or day to call?

Question about debt settlement.? Is it possible to negotiate a payment plan on a debt settlement? Say if you tried to get a $1000 settlement... can you negotiate with the person and tell them you'll pay it in two monthly installments of $500? Or is that not (or rarely) possible?

Is it better to negotiate settlement with a collection agency or original creditor? I wish to settle debts and clean up my credit. I don't know who to pay...

I am 6 months past due on my 4 credit cards, how do I negotiate a settlement? I am thinking they'd rather get half than nothing. I'd still need a 36 month payment plan. I can only pay each card a good faith amount of say $20 in January. I have been out of work for 6 months. My debt exceeds 70K. How do I get them to stop from charging all the fees and interest? Did I mention I haven't spoken with my credit card companies in 6 months. How will a partial settlement be listed on my credit report?

Debt settlement on my own - Can I make payments? I understand there are tons of companies out there who offer debt settlement programs. Some sound alright, others have been extremely annoying - after the only thing I really wanted was a consultation and some help understanding the program to begin with, they would not leave me alone!!! (Must work off commission). Anyway, I thought about negotiating with my credit card companies on my own, and one agreed (almost) to a 50% reduction. Sorry this is getting so long, but anyway!!!... How the heck do I pay that lump sum at once? When negotiating on your own, can you also request that discounted balance to be payable over a certain amount of months? Or should I just go ahead with a debt settlement company so I can make payments over 2 or 3 years? If I had a huge $4000 cash wad (like needed for the debt reduced 50%, which is only 2 of my 5 cards) then I probably wouldn't have such a financial problem. lol But I don't have that kind of money all at once up front..so any suggestions!?

I am a student with serious credit card debt. Will a debt settlement pro. bar me from getting Stafford loans? I am a student and I will be going back to school soon. I have FINALLY been offered this awesome financial aid package which includes grants, scholarships, and government loans. My only problem is that they require me to go to school full time. This will decrease my monthly income because I will not be able to work as much. I have having trouble making the monthly payments on my credit cards... but I am currently current. A debt settlement program says that it will mess up my credit in the short run, but that I will have better credit in the end once the balances have been paid in full. I need some way to reduce my monthly expenses... and negotiating myself means payments that I cannot afford! I just want to make sure that this would not bar me from obtaining new Stafford loans every year for school.

Debt Settlement on my own? I have 25,000 in credit debt and 40,000 in income but with car payments, rent and expenses I never seem to get anywhere with my debt. I am still current but all the rest of my money goes to credit cards. I don't use the cards anymore but I just make small dents in what I owe. I looked into debt settlement with a professional but I would like to do it myself if I can. The settlement company told me I would stop paying my creditors and that they would have me put a payment into an account with them until I am seriously behind and then they would negotiate with the creditors. If I did this on my own should I stop paying all my credit cards and put my money into an account so I have something to pay to the creditors when I settle or should I try to use the money to knock out the smaller ones and try to negotiate the bigger ones?

Can anyone recommend a good, reputable and fair priced Debt Settlement Company ? I am a person who has fallen upon some dire financial times in recent years past and now find myself capable of trying to improve my credit history and clean up these unresolved financial matters. I would very much like to know if anyone has had the opportunity to work with a good Debt Settlement Company. Please keep in mind that I am not interested in a company that will set up a prescribed monthly payment arrangement. Rather I am looking for an organization that will agressively negotiate a one time, lump sum, discounted settlement for approximately 10 past due credit card accounts that have been placed into collections. I am really looking forward to seeing what you have to share.

debt settlement or go to court..pls help!!!!? I am being sued fo a debt that I owed dated back in 2005, I seeked the help of a financial consultant recently and was advised by them that they can help me with a settlement with the attorney office to about 80-90% of my debt. The only set back is that I have to pay them 1K for their service. Please advise if I should settle my debt in court or go through with the financial consultant company and get this over with? My court date is set in May but till now I have not received a summons from anyone. Supposedly they said that they had tried to reach me at my house but couldn't find me. Is there any way that I reach them to get my summons mail to me or I can pick up myself. I don't want them to go to my work. Is it eve possible for me to contact the attorney office and negotiate myself? Pls help!!!!!!!!!! thank you all!!! I owe the cc company right now $2090. The financial consultant is asking for $1000. They told me plus everything I probably would owe the attorney around $1500 additional to my debt. That would means I would be pay around $3500. The consultant told me he can get me to pay around $2800 or $3100 as an out of court settle. of course not including their 1k service fee. I am just not sure what I should do.....Should I go to court and ask for a monthly installment since each month what I have left is only about $300 max. Should I go with the expert and get this over with? Or should I contact the law office and negotiate for an out of court settlement directly? thank you for your reply btw. thanks all for your help. Well I did went to court and ask about the case...the clerk told me someone tried to drop off the summons to my house but they couldn't reach me, I assuming I was at work...anyhow, I asked her who issued and deliver the summons..court or the attorney office, and she told me that the attorney office. I manage to borrow some money, and well I contacted the attorney office and they're willing to settle my debt for 69% of it...I managed to borrow some money from a friend because I just want to get this over with and not deal with the law. Well, I paid off and they said they would drop all charges and such....I got a settlement letter from them and I've checking to see if my case has been dismissed but it still show pending...so Im going to continue to check and hound them day and night if my case does not get dismiss...LORD...one big lesson to learn...thanks all!!!

Credit card debt, is the following statement true? "Do you have the settlement amount in full? When you try to negotiate settlements, often times you need to have enough funds to make large payments. Additionally, be aware that any "forgiven" debt by the OC is considered taxable income by the IRS" Trying to negotiate large credit card debt down. 8 credit cards 25%, can not consolidate and do not want chapter 13 on record 10 years.

Can you settle an old debt, thats in collections, with the co. you have the debt with? I have an old Cingular Wireless bill that is in collections and I wanted to know if I can call Cingular and try to settle the debt with them, or do I have to deal with the collection agency that has the old debt now. Do you think they would be willing to negotiate a settlement offer with me for a lower payment then what I owe? I had an offer before with the agency at one time, but two weeks before the payment was due, I was laid off my job so I couldn't make the payment. They have since sent it to another agency that's trying to collect. Please, someone who knows, respond with suggestions.

Credit Card debt settlement, best way?? I recently suffered an illness, lost my job, have several credit card balances, could not keep the payments up, tried to work an arrangement with the credit card companies, but that did not work out either. Now they are all in collections, my credit score is trashed, and short of filing bankruptcy (I do not want to do), I am getting offers to settle for half of the balance. I do not own real estate, but have recently came into some money, not a lot, but if I settle with the collection agencies, I was told that I should request they send me a paid in full as agreed letter first for the negotiated amount, and will help my credit score. Is there proper way to do this that will eventually help my credit report??

BoA says negotiating a settlement is worse off than bankruptcy? the debt payment i have on a credit card with boa is current but adding the interest and fees is making the debt more worse like am not getting ahead of it or anywhere anyway. so i simply want to negotiote on an reasonable amount i know i can now afford and just pay off and clear this debt once and for all. a bank of america employee told me this is worse off than bankruptcy. i don't believe him and i don't think this is true, right?

Has anyone had an experience with trying to negotiate a settlement themselves with unsecured credit cards? I need to hear from people who have actually had success in doing this on their own,and I need to know step by step what to do. This way I wouldn't have to pay a company to do it. How would I get ahold of the list that creditors go by to tell you how much each credit card company would be willing to settle on?I know that settlement companies have such a list. On one hand it would be great to have someone handle all the details and do all the communicating with creditors, but on the other hand I would like to save on the fees they charge, and put that money on the actual debt, but I wouldn't know how to go about getting the best settlement without help. Please answer only if you have actually done this on your own, and know how to go about it, and also I would need to get a statement from each creditor saying the debt was settled or satisfied after agreed amount was paid. How would I go about that ? I need to know what I should do.

Best advice to someone with $100k in revolving credit card debt? We have a friend that told us just the other day that her and her husband are drowning in credit card debt. He earns a good living and they are both super cool people. But she said they pay $2500 - $3000 a month in credit card payments and have over $100,000 in balances. I honestly couldn't believe it. My first suggestion was to consider bankruptcy, but she was 100% against it. I also heard about debt consolidation clinics. But they advise you NOT to pay your debts for months at a time, then negotiate a lower settlement so that the credit card companies can avoid writing you off as a loss. But this ROYALLY screws up your credit as you can imagine! This situation got me and my wife thinking, as we have our fair share of credit card debt as well. So besides refinancing your house for the 5th time in 5 years, borrowing money from Aunt Edna, or making minimum payments for 60 years, what is the best way to get out of credit card debt???

Should I try and settle my debt directly with my credit cards? I have a small amount of money coming in and since I have been late paying my cc bills, I was wondering if anyone had any advice on trying to negotiate a settlement amount with my credit cards directly?

I want to settle my debt with the credit card companies, without damaging my good credit......? I was ripped off by my finacial advisor, and a caregiver, now I owe a few credit card companies. I want to clear my debts in full (or settle). Will I damage my good credit if I negotiate a settlement? What can I do? I qualify for medical hardship, these debts accurred over a couples years, due to becoming paralyzed and permanetly wheelchair bound. I do not receive disability, but am retied with pension. Will a police report help or be needed? Thanks.

can i re-negotiate my divorce settlement between degree nisi and absolute because i was treated unfairly? She refused to pay company debts although they were shared liability but forced me to take her company instead which turned out to be in as much trouble as mine. She has now only got very small mortgage and i have got £142000 mortgage and no job.

is there a statute of limitations on credit card debt collection? Accts were closed in 1999? 1999. what happened was ex maxed out five cards with atm transactions before leaving in 1998. I cashed in retirement money and settled four, ran out of money for fifth. These were all settled in 2000. Was negotiating for settlement on this last one when they cut off contact in 2000. Just heard from another collection agency who purchased this account. They want payment of this old account.

Lump sum settlement (and other credit issues)? Hey everyone... I'm in debt. Not horrible debt, around $12,000 total (not including student loans..which are in good standing). Most of it is credit card debt, and a repo'd car loan. I've made it my new years resolution to get myself out of debt, or at least on the right track. I pulled my credit report, made some calls and already have a couple minor things paid off on my credit report. I recently received a letter stating that a $3,350 credit card debt could be paid off for a lump sum of $1,350 to Midland Funding LLC (the letter is from a local law firm here in Louisville, KY). How should I proceed with this? I mean, it's obviously a good deal...saving $2,000 in the long run. But what about getting it off my credit report? How would paying this off affect it? Will it still negatively affect my credit? Can I demand it be removed from my report after I pay it? What about other similar debts? Can I negotiate a lump sum settlement? Any suggestions or advice on these matters? Thanks for the replies everyone! As for how old the debts are, they are pretty old. The $3,350 one's last payment was 4/2004. First major delinquency reported 12/2004. There's another one for 5/2005 on my report. And one is for 8/2004.

what do I do with debt collectors refusing to accept my offer? I am trying to negotiate a settlement with one of my creditors and the debt has gone on collection. I was able to reduce the balance to an amount both the collection agency and I agreed on. Unfortunately, my finances will not allow me to pay the whole balance on the due date because the money I was counting on didn't happen. I called them ahead of time to let them know that i will not have the money available to pay them and if we can work out a payment plan. I talked to 2 people the first one hung up on me and the second one refused to give his first name, refused to listen and work out a plan with me and threatened me that I will suffer the consequences. What should I do? Please help!!!

what happens when a credit card company takes you to court locally? we're dealing with a company to help us pay our debts off by negotiating a lower settlement cost for us, but first we need to have a certain percentage of our total debt saved up. that'll be awhile and meanwhile, this is happening. anyone else been there-done that who can advise me on what happens now?

My friend has about $40,000 debt in 4 accounts. Recently a lien was placed on her bank account that she was? able to get the court to release that but the bank charged her about a 900 dollars fee for checks that she had sent in that time. Is it legal for a bank to do that? she is with a debt consolidation company she has been telling this company that they should make arrangements with all 4 creditors but the consolidation company( made arrangement with 2 creditors) said that they will get her a better rate if they negotiate with the two other companies the result was the creditor got a lien. Is it not the duty of the consolidation company to make sure that no such lien is placed once she was paying them regularly. she was planning to save some more money every month put it in her bank account and hoping she saved some reasonable amount try to negotiate a settlement with one of her creditors directly but she has been told that if she puts more money in the bank the creditors will levy the bank account again she is at her wits end what should she do ?

Is it legal for bill collectors to call my relatives? Bill collectors are calling my relatives several times`a day. Now they also have a law` office calling. I'm in a debt settlement program and so when i get enough money saved up they call the creditors and start negotiating an amount i pay. Is there a letter i can write to stop the phone calls?

What % can I settle my collection account debts for? 25%? Less? Homeless & on welfare. See details below.? I will try to negotiate settlements myself. * two accounts $2,800 each. * two accounts for $5,600 each. Sample debt settlement letter: http://www.creditinfocenter.com/forms/sampleletter6.shtml Unsecured credit card debt.

Credit card debt? When a CC debt is charged off and sent to a collection law firm. Can you still call the original CC company and negotiate a settlement instead of dealing with the agency?

need advice-negotiated on a settlement? I made settlement with a collection agency on a debt that was for 1300. the settlement is for 800. the people there actually didnt give me a hard time, I have to send this payment out overnight, I am sending them a money order. Now i am waiting for them to email the settlement letter. I have not recieved it yet, the supervisor said i would have it, which was an hour ago. Is there anything i can do to protect myself if i send out the payment without getting the letter. Is there anything i can write on the money order or maybe write up a letter saying this is part of our agreement? would that be enough proof of our agreement if i never get there letter just in case this comes back to haunt me. any suggestions? Please help i need advice.....

Help with a credit card suit? I was just served lawsuit papers from the court clerk. They are not requiring me to appear, just to file a written response within 10 days. What am I supposed to write? I obviously don't have the money, or I would have paid. Is there a chance I can still negotiate a settlement? The debt is about $6700 from Discover. It sucks because I am not an irresponsible person... my husband and I just had some major financial problems for about 2 years that we are still recovering from. I don't think they are even legally allowed to garnish wages in Texas... but can they if the debt was incurred in Ohio? Also, I don't work (I stay home with the kids) Can they garnish my husband's pay? What is most likely to happen? So if they are expecting me to file a defense, and I don't have one, do I just do nothing and wait for them to make me appear?

16 with credit card debt? OK- here it goes. i'm 16 years old, and i live in california. about 6 months ago an offer came in the mail for a credit card. without informing my parents, i filled out the application online just to see, not expecting to be approved because of my age, but i was approved with a $4,000 credit line. i have a pretty good job and i figured i'd keep it to buy stuff online because my bank wouldn't give me a visa card linked to my account, because i wasn't 18. well, stupidly i got out of control, and ended up spending $3,600 over a few months at the apple store. my parents found out when he bill came, and let's just say i had a talkin to. anyway, i've been paying every 2 weeks, and my debt is down to $1,600. i watch the people court, and isn't a contract voidable if i'm a minor? if i contact the credit company, could i negotiate some sort of settlement due to that fact? do they do things like that? i'm not looking for a free ride, i know i owe the money and i've been paying...