Posted on
January 28, 2010
at
3:12 am
if i am settling my debt with a collection agency, how much should be my first offer?
Posted on
January 28, 2010
at
3:39 am
When settling debt with a collection agency it's, I think, safe to start with 50% - anyway they would refuse that - and if you can pay 75% of it anyway - aim to pull down your balance to closer to 50% - or even lower.
Posted on
January 28, 2010
at
3:43 am
Settling debt with a collection agency -Number one. Have the debt validated. Next. If you can also negotiate how it's going to reflect on your credit report...Three. Don't forget to put everything into writing. Honor the agreement.
Posted on
January 28, 2010
at
3:44 am
Do all collection agencies work with consumers?Is it better to enroll in debt relief programs?
Posted on
January 28, 2010
at
3:55 am
I would say so ... remember that an account gets passed on to them for the specific purpose of getting at least a portion of the debt - that the original creditor wasn't able to do - in the amount of time given them by the law (5-6 months).
Posted on
January 28, 2010
at
3:58 am
Settling debt with a collection agency - Is it better to enroll in debt relief programs?It might be, in terms of those guys at the settlement company are pros, and that they've working with these collection agencies & so knows how to get the best settlement offer for you.Your next question might be - how do I know which settlement company to trust or if the program works at all?The answer is, ask for a sample settlement letter from them. Also, check their background with the BBB or TASC.
Posted on
January 28, 2010
at
4:15 am
Just to follow up on that previous post: Settling debt with a collection agency - Is it better to enroll in debt relief programs? - What to look for in a settlement company?-The settlement company's program must have a fast completion time. 12-36 months.-The program must be able to protect and improve the consumer's credit standing.-Must be a member of the Better Business Bureau, BBB, for at least 5 years.-Must also have a good standing with the Chamber of Commerce-A Member of TASC - The Association Of Settlement Companies and the IAPDA or theInternational Association of Professional Debt Arbitrators
Posted on
January 28, 2010
at
4:18 am
Settling with debt with a collection agency - how long does it usually take?
Posted on
January 28, 2010
at
4:21 am
The debt settlement program would usually take 12-36 months to finish. And it would reflect on the credit report as "settled", "settled for less than the full balance", or "settled in full."
Posted on
January 28, 2010
at
4:31 am
Before you make any payments - or agree to paying - make sure that you are settling your debt with a legitimate collection agency or THE collection agency that your original creditor has assigned your account to.
