Please suggest me how to negotiate with creditors on my own

8 Answers

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I would call 866-833-6398. They can settle your debt for less than 28 cents on the dollar.  

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I have worked for EFA Processing in the past but now work for USDR and the best thing would be to contact the creditors who are collecting on behalf of the original creditors to determine your options to resolve the debts based on your financial budget/hardship.  If an agreement is met, you should request the letter in writing before providing any personal bank information.  For more information you could check us out on the web for additional information.

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We are due to sign up with Superior debt relif. I have decided to pull my two largest balances off plan Bof A 35K and Citi 25k and settle on my own. I am 3 going on 4 months with out making payments. I want advice on the best first contact with creditors. Also what do you think of my plan?


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Since you started this process three years ago, I would definitely NOT call the original creditors. This will lead to numerous phone calls and a lot of frustration.

Request all of your documents from the current company; they should have the most recently received collection letters for each of your accounts, and this will indeed point you in the right direction.

If you are unable to obtain this information from this current company, go online and get a 3-in-1 credit report, which should list your accounts and their whereabouts.

Good luck!

Marie Megge

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I would suggest contacting the original creditors to learn the status of your accounts. You can learn who still owns the debt and which ones have been sold. Once you get that information you can begin negotiations. Negotiations are 99.9% over the phone with a settlement letter being mailed/faxed when agreed on.

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sbartell7, once you find the address of the collection agencies, you can send a settlement letter to them. If the collection agency does not respond to it, then you can make a better settlement offer to them. If they accept it, then you can sign a written settlement agreement with them. This way, the collection agency can\'t say that no agreement was made between you and them.

Even if you negotiate over phone, then record the conversations in a tape. You should also avoid giving access to your savings accounts through phone.

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Nelly?? Have you ever had an account in collections???
No collection agency will negotiate in writing....they will only negotiate over the phone. It takes too much time and manpower to write mailing time.

NO collector is going to want their inventory clogged up with these types of accounts.
Once you come to an agreement, they will mail or fax a settlement agreement to you. If they refuse, then you dont pay.

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You can contact the collection agencies to negotiate a settlement. It is better to go for the written route. This way, you\\\'ll have the documents. You can go through the following page to know how to settle debts on your own:

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