How can you settle debt yourself?

How can you settle debt yourself?

3 Answers

Save some amount every month. Fax or mail a settlement offer letter to the creditor. If the letter is approved, make a settlement agreement with the creditor. Pay the agreed amount to the creditor and ask your creditor to update your report accordingly. 


It is quite easy to settle your debts on your own and it will also help you in saving your hard earned money which you will have to otherwise pay to the debt settlement companies. As a first step, you need to calculate the total debt amount that you owe. Along with it, you will also have to analyze your debts. You should also make sure that you have a copy of your credit report from the credit bureaus and analyze it to find out what debts you have and if there are any wrong information mentioned in it. Checking your credit report will also help you know whether or not your account is with the collection agency or is it still with the original creditor. Depending on that you will be able to decide on negotiating with the them.


You may look at this page: http://www.debtconsolidationcare.com/steps.html . I hope it will help you to do it yourself.


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