What is the best way to pay off a whole bunch of creditors at one time? Should I talk them down or seek help?

Question

I have lots of bills at credit agencies all over that have accumulated over the last 8 years, from car loans to doctor bills. I almost filed bankruptcy about 2 years ago but decided not to. I have run into a hand me down of money and wil finally be able to pay them all off soon. If I added them all up I probally owe $15,000.00 between 20 different credit agencies. Is it possible to somehow talk them down on what I owe them? Or is there professional help I can seek and maybe get them all into one big bill and have it reduced? I would like to fix my credit and save as much money as possible doing it.

This not just buying things and not paying for them because i don't want to. I am a husband and father of 4 boys, I have been through a divorce which cost me all my money, I won my boys in the battle. When 2 of my children were born i didn't have insurance which is 2 of the bills that aren't payed. A van that was never payed for because the divorce battle won in my favor but she won't pay the bill on it and I cannot get it off my credit report, lots of doctor bills from loss of jobs and no insurance. I was in a car accident that cost me my car because i had no Full Covereage...I mean i can go on with money problems. So it's not what i made it sound like.

Answer 1

Yes, you can ask for a prompt pay discount. We offer it all the time on big bills. Depending on the size of the amount, we would offer as much as a 20% discount on prompt pay (that is, whole amount paid in full within 7days) If you do get a prompt pay agreement of some %, remember to write down the name of the operator you are speaking to (in case they try to double back and say no agreement was arranged) and on your check, in the memo, write "paid in full' once they cash the check, they are in legal and binding agreement that the memo was acceptable. It's a little trick that has worked time and time again and holds up in a court of law.

Some places will not accept a prompt pay, so purposely pay them in 3 installments.

Answer 2

Let me get this right, you bought stuff and used services and now have to pay the bills. Now you are talking about reducing the amount?!
The best time to reduce the amount is when you are using the services and products. Compare prices, decide whether you really want to buy the thing.

I think you should pay the whole amount now that you have the money. Then avoid getting in this position again.

Answer 3

Oh yea. This is how you do it. Get in touch with one of those credit counseling agencies,, do some research to make sure it's a good one. Don't tell them how much money you have, just tell them you ewant to consolidate all your past debts, and want to start making monthly payments, they will then contact these co.s and get the amounts reduced to there Original amounts or less, then once it is all in and in writing, pay them off in a lump sum, one by one. You could even contact them one by one for a further reduction in exchange for a lump sum payoff.

Answer 4

You may consult a credit bureau who will be pleased to assist you in finding ways to reduce the amount owed. However, this will eventually affect your credit ratings. I suggest you speak with each individual agency and ask them to work out a schedule where you can repay the amount owed via monthly installments or in one lump sum.

Answer 5

Try finding someone to consolidate it all into one bill.

You can't get out of paying your bills, or get your amounts minimized. If you can, than I would sure as heck want mine cut down as well. Creditors don't believe in cutting people slack. It doesn't matter how big of a sob story you tell them.

Answer 6

Dont pay them!