2006-08-23 15:15:40 · 4 answers · asked by lu_consulting1993 1 in Business & Finance ➔ Credit
The best way to negotiate is to be polite.
1. Call up the creditor - most likely your bank sold off the loan or charge off
2. Ask for a settlement. Don't be demanding, see if they come back with a structured payment and lower payoff. If they say something you can't do, tell them. If they say "We will offer you a 80% settlement" ask for a 75% and be nice.
3. When working with them, and getting an offer together state that you would like to have a "pay for deletion" in that if you meet the requirements set forth they will delete the charge off from your account.
ALWAYS i mean ALWAYS get everything in writing. When you call ask for a settlement offer as you discussed in writing before paying. When you pay try and ask for receipts showing your payement.
The quickest way to "get in the hole" is if your account is sold while your paying and the buyer doesn't agree to the terms. If you get your settlement in writing you will protect yourself.
Be curteous, don't lie, tell them your circumstances but agree to pay the balance/judgement/settlement. IT will save you THOUSANDS OF DOLLARS IN THE LONG RUN!
2006-08-23 15:26:35 · answer #1 · answered by Anonymous · 1⤊ 0⤋
What's to negotiate??
YOu got loan
You don't pay
Bank charges off the account
2006-08-23 22:19:02 · answer #2 · answered by snvffy 7 · 1⤊ 0⤋
set up a monthly payment plan. Call bank and speak to financial center manager. If they are a good bank they will be willing to work with you to relief the debt.
2006-08-23 22:22:36 · answer #3 · answered by n2art2002 3 · 0⤊ 0⤋
I dont even know where to begin
2006-08-23 22:19:52 · answer #4 · answered by E.F. Landeros 3 · 0⤊ 0⤋