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I have about $7,000 in debt to 2 credit cards,both are maxed out but I came into enough money to take care of it,but I wonder if it would pay me to try and negotiate this debt down?
If you have the full amount, you are MORALLY obligated to pay it. In any case, they have ZERO incentive to settle unless they have reason to believe they can’t collect the amount due. Unless you have not been paying for at least 6 months, they don’t have reason to believe they can’t collect.
I owe a $2200 debt to an apartment complex and it has gone to collections. I cleaned my house the other day and found a letter from February saying that if I had paid it by the end of the month then they would have only made me pay $1100. Needless to say I was miffed. My boyfriend said that I can call and tell them I will set up a payment schedule if they will reduce my debt. Is that true? Can I negotiate with them and get them to reduce how much I owe? I have no problem paying the whole amount, but if I can get some slack then I will. I am going to set up a payment plan regardless but I'd like to know if there is anything I can do.
Sure can. There are no regulations that prohibit negotiating a settlement.
Make sure that if you do reach a settlement, they put it in writing first before you pay anything.
They said I would get the latest version of software for debt management as well as a license for a members forum included with the negotiation with credit card companies to have a lower and fixed interest rate. None of this happened. I found out that the software was the paperwork they sent in the mail to inform them of the credit cards I have. Also there is no forum, only the workers at the company when you call in. They misrepresented themselves and have never done anything on my account, since February. I found out there are numerous complaints of there practices with the BBB. Can I get my credit card company to reverse the charge? Is there a way to get my money back? I already contacted the credit card company and disputed the charge. I contacted the company and they told me they are sorry I "misunderstood" that software meant paperwork, Yeah, right. Any Suggestions, Please! Thanks!
Contact the Better Business Bureau, you can do it via Internet. I filed a complaint against a large cable company, and I got results within two weeks.
I had made many telephone calls back and forth with no results. I sent them emails and no response. Once I filed a complaint with the BBB they found the time to return my calls. I received a refund check shortly after. They wanted to offer me a special rate if I would agree to continue with the cable service. I told them they must think I am stupid after all the time I spent trying to get my money back from them.
When it comes to negotiation paying someone can save you money and make sure the proper steps are taken. However if you do decided to do it your self don't call send letters only and when they call you ask them to send you information in righting agree to nothing answer noting over the phone.