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Have any of you used debt negotiaton?

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kimmerspixelated Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-20-10 05:24 PM
Original message
Have any of you used debt negotiaton?
As a way to get out of or reduce your ccdebt, or any other debt?
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leftofcool Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-20-10 05:42 PM
Response to Original message
1. No but before you consider this
go to ripoffreport.com and do a search to see who is not legit. There are many shysters out there doing this. They take your money and do nothing and that includes some law firms.
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kimmerspixelated Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-20-10 05:43 PM
Response to Reply #1
2. Oh yes, definitely good advice!
That's good when investigating ANY business!
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EmeraldCityGrl Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-20-10 05:52 PM
Response to Original message
3. Always try to negotiate yourself first.
It's surprising how often debt holders will negotiate your balance depending how you position it.

Politely offer them an opportunity to collect a portion owed with new terms or nothing at all.

You can tell them you've received a one time settlement and it's now or never. My son just renegotiated his

BofA credit card bill. The terms included his paying it off by the end of the month, but it was about 40%

of the initial balance.
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Edweird Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-20-10 06:13 PM
Response to Original message
4. Tried, but they weren't able to make any difference.
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