can anyone give me advice on clearing delinquent bills?

Question

can anyone give me info on clearing debts how do you negotiate for lesser and do they listen i've heard they sometimes settle for lesser but later come back for the original and can you use your credit card to take care of it .what receipt would you have right then that you actually paid them i just want to know all the tactics they use ,so that i can educate myself WHAT PERCENTAGE DO THEY usually settle for in most cases I WANT TO KNOW AND LEARN ALL I CAN BEFORE I START NEGOTIATING ESPECIALLY WHEN YOU USE YOUR CREDIT CARD I'VE HEARD THAT THEY ARE VERY SLICK

Answer 1

You're already delinquent, so just relax, and set your own terms. If you're dead set on paying off your bills and not going bankrupt, you tell them what you're willing to pay, and stick to your guns.

Eventually, they'll cave for a reasonable offer, eventually.

If you're trying to buy a house in the fall or are on a time schedule, you might want to ask friends to see if any of them has succeeded at it, and have them help, some people are better at negotiating than others.

I am choosing bankruptcy myself, but I have foreclosured and repossessions.

Good luck on your fresh start, I'm proud of you for pulling through and clearing it up!

Answer 2

the best thing to do is go to credit couselling. I am saying this because they have all the negotiating skills to do this and most times creditors like to deal with a professional. In the long run, credit couseling is best. They do all the dirty work and if you want to know percentages and so forth they will tell you everything. Once you do this you will feel better. Also you pay the couseling people once a month and they take that money and pay all the creditors. It saves you a big headache and then you at least don't stay up all night worrying about it. One monthy payment and you know exactly what you have to pay out each month. In the end you will have saved your credit and all is well. Take care Heather

Answer 3

I don't know about specific techniques or percentages, however, the older the debt is, the less they'll usually settle for.

Also before giving them one penny, make sure you have the deal in writing. Especially make sure it states that after paying what you've agreed, the debt is to be considered and reported to the credit bureaus and "Paid in Full." Again, get that in writing, even before making a good faith payment or a token payment. Not one cent until the agreement is in hand!

Answer 4

The credit card companies do settle on some debts. ALWAYS get the amount in writing from them BEFORE you send them a check. Never give them a postdated check (they won't wait) and never give them access to your pin#s for a debit card.
Dave Ramsey is on the radio and has a plan and a book, and tons of wonderful ways to eliminate debt. daveramsey.com give it a try.
Good luck!

Answer 5

Look in the Yellow pages for a Debt Consoladation service. They do this all the time and can probably advise you how to negotiate with your creditors.

Answer 6

if you have accounts in collection already' you might as well forget about paying them because they are on your credit report and will stay on it for 7 years no matter what! if you payoff the full balance it wont look as bad' but its still on your report' go to (credisource.com) they are pretty good about getting negative items removed from your credit report but they charge 99.00 a month to work on your report and it could take up to a year or longer' hope i helped you'

Answer 7

Call each bill collector and work out a payment plan with them that will pay off the balance and any interest owed.