Let us settle debts now because who needs to add more stress to their lives, right? If you have been hounded by creditors day and night, here are some tips to help you start the ball rolling:
Ask yourself if you are a good debt settlement prospect. How would you know if you are a candidate for debt settlement? Answer these questions:
* Is filing for bankruptcy a consideration?
* Are your debts considered delinquent?
* Do you have a sizeable amount on hand that you can offer to your debtors to entice them to go into a debt settlement with you?
If you answered Yes to any or all three, you might be a good candidate to settle your debt. Another quality you must possess if you want to settle debts is your ability to broker a deal with your debtors. It would be best if you were firm but realistic also because debtors are not obligated to accept your debt settlement offer. Bear in mind that the person holding your accounts is trained to squeeze out every dollar they can to get their money back.
Another consideration is the money that you have to settle debts. If you have at least 50% of the amount that you originally owe, you may be able to lay it down on the table so that your debtors can consider going into a deal with you. Word of caution again, your debtors are in no obligation to agree with your terms, but with a significant amount to offer, they may be able to be convinced. Debt settlement is better than bankruptcy, after all.
Last but not slightest consideration is your determination and tenacity to settle debts. It would be nice to pay for everything in one meeting in a perfect world, but it may take longer. As they say, if you fail, try and try until you succeed. If the agent you are talking with now isn’t going to listen to your offer, try and call somebody else. Better yet, ask for the manager who has the power to help you. Whether it is an agent or the manager, prepare your story and the solution you will offer to settle debts.
Be concise and get straight to the point. Tell them why you can’t pay your debts but tell them that you are willing to honor your obligations. Like you, they will also try to get as much of their money back as possible. If you are ready to settle debts with 50%, start your offer with 30% of the original amount and go higher as the conversation goes but remember what you can only give as you try to settle debts.
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