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Negotiate Debt Settlements with Agencies by Ahmed Eljenan is a document available to read on EtoBox.
What is Negotiate Debt Settlements with Agencies about?
Negotiating a settlement with a collection agency involves offering a percentage of the total debt owed in exchange for deleting the negative credit report. The document recommends starting at 25% or less of the full amount and negotiating in writing rather than over the phone. It also notes that collection agencies purchase debts for pennies on the dollar, so even settling for 25% allows them to make a substantial profit. Proper documentation and following Fair Credit Reporting Act rules is important when
- Author
- Ahmed Eljenan
- Language
- EN