I would prefer debt settlement and I was wondering

I would prefer debt settlement and I was wondering about several questions:
Do you have a good letter to send the creditor and the collection agency?
How long does "settled" stay on your credit report?
Do you have telephone script to talk to creditors and or collection agencies to reduce the amount of account payment?
Do you know of an attorney or company in Within 25 miles of Hagerstown, MD and I have a lawsuit pending how should I handle that?
Thanks
J. M.

3 Answers

As I stated above, DO NOT WRITE A LETTER asking for a settlement.  Call and negotiate it over the phone and then have them fax you a settlement letter.  Citibank can be very aggressive....have they offered to settle??  You say you have a lawsuit pending...have they served you?

Judgments remain on your record for 10 years, your other collection accounts will remain for 7.  It is going to take time to heal your credit...dont expect it to happen overnight.  We are here to advise but you can read thru the main forum to learn to educate yourself.  There is lots of material and experiences.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

As a follow up to #1 it is Citibank that is suing me. Also I have 3 other credit cards that 2 of them are with Collection Agencies and the other is with US bank and they are the original creditor. They want to settle should I? And what should I make sure of besides putting it writing (what  should be included in the letter and can they or anyother come after me for payment in the future?) How do I fix my credit score after a lawsuit and settlements? I am new at this and need expert help.Thanks J.M.


Call and offer a settlement yourself, especially with a law suit pending.  Dont waste money on an attorney or company.  Who is the creditor?   You do not need a script...simply call and tell them you want to resolve the account and will they settle for whatever amount.  DO NOT WRITE A LETTER...they probably wont bother to respond.   If they are in the process of suing you, depending on the creditor they may not choose to settle at all.

If you are being sued your account is already in the toilet.  Reporting settled wont raise your score.

 

 

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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