I have recently have fallen behind on my credit pa

I have recently have fallen behind on my credit payments due to finacial hardships. 2 mo behind with US Banks and the phone calls have started. Can I nagociate a settlment on my own at this time.

3 Answers

You can go through the following link to get an idea about how to settle debts on your own:
http://www.debtconsolidationcare.com/steps.html


Usually, creditors agree to work out a settlement agreement on the delinquent debts. Some creditors do not agree to settle the debts until you're lagging behind the payments by 3-4 months. You can contact the creditor, and try to settle the debt with them. You can get an article on the steps to settle debt from this website. Read the article. It will help you settle the debt.  


Yes, ofcourse you can negotiate a settlement offer with your creditor so that you can easily repay an amount that is lower than the actual outstanding balance. However, you need to show extreme financial hardship in order to qualify for a negotiation offer. Also make sure that you craft a budget in order to make them believe that you're earnestly interested in repaying them after the debts are settled.


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