Posted on November 27, 2009 at 1:40 am Help!! I need to make a settlement offer to creditors!! I wanna finish off my debt asap, what do you think should I write in there?

Posted on November 27, 2009 at 2:22 am you can actually give a settlement offer to creditors? i didn't know that... but don't they always want you to pay everything off in full?

Posted on November 27, 2009 at 2:33 am Yes, you can send a settlement offer to creditors. Here's a sample you can use:(Creditor's name), the Creditor/Creditor's Representative and (debtor's name), the Debtor agree to negotiate and settle the debt under the following terms and conditions. The Creditor and Debtor agree that the current outstanding debt is <$ balance amount>. Both parties agree that the Creditor will accept a cash payment of $_________ towards settlement of the debt in full. The Creditor agrees to compromise the debt under the condition that he'll receive the payment by [date]. If the Debtor fails to send in the amount agreed by, the Creditor shall immediately demand the payment of the original amount owed by the Debtor. (Creditor's name) also declares that he is authorized to act as an agent of the Creditor's company. This agreement for debt settlement shall be binding upon the Creditor, Debtor and their successors and assignees. Dated: Signature: (Creditor's name), Creditor Signature (Debtor's name), Debtor

Posted on November 27, 2009 at 2:41 am what happens if the settlement offer to creditors isn't accepted? what can i do? can i negotiate for a lower amount still? or should i get a negotiator to help me?right now i have a $20k debt and i can only pay $5k... i really want them to accept that just so i would have this whole thing finished off already....

Posted on November 27, 2009 at 2:59 am what happens if the settlement offer to creditors isn't accepted? what can i do? can i negotiate for a lower amount still? or should i get a negotiator to help me?The fact of the matter is, you may not be able to be approved for your desired amount all the time. Not all creditors are gracious in terms of allowing you to pay an amount lower than what they demand. The amount that they will also agree to settle for will also depend on the delinquency status of your account.

Posted on March 9, 2010 at 5:49 am A question: What is a fair settlement offer to creditors (first amount)?

Posted on March 9, 2010 at 5:55 am What is a fair settlement offer to creditors (first amount)?-- 50%? They would reject that of course ...