Debt Negotiation Advice
How can I negotiate with a debt collection agency to stop charging me interest or cut my balance by half?
What do I need to tell them so they stop charging me interest or cut my debt by half? I owe $4k
Public Comments
- Call them and explain you are in trouble. Say you are looking at filing bankruptcy if you cannot figure something out with them. Tell them you need the credit card closed out, and interest stopped, and that you need to work out a plan to pay it back, or you will have to file bankruptcy. Be tough, they will settle for half if you play it right. It will take time, you will have to stop making payments, and your credit score will be damaged..........just the way it is.........
- call them your in trouble i currently owe 5200 dolars not much but im 21 and cash is hard
- For 4K I suggest you hire a professional to negotiate on your behalf. There are debt settlement companies that will put you in a program with monthly payments and negotiate on your behalf with the collection Company. For example in 6 Months you could have your debt settled for about $417 per month or 12 months for $233.
