Negotiate a Debt Settlement
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)
Public Comments
- It’s okay and could suffice; however, it could be just a little bit better. The terms for payment are ambiguous. The language insinuates that payment is to be made as a lump sum, but, the date the agreement was written could be a year before the total amount is due. The terms for payment should be set forth more clearly as lump sum or as monthly installments in whatever amount. And, having said that, there is no date in the terms of the agreement setting forth when said terms were agreed upon. The date at the signature line is not sufficient. And finally, there are no terms set forth for the method of collection if Debtor fails to pay to Creditor the sums owing on or before the due date and who is responsible for attorney’s fees if any should be incurred, which, actually, is to the benefit of the Debtor...
