Negotiating Debt With Original Creditors (DIY)

The idea is to be able to lower down the payment to a manageable number so that it can be paid off as quickly as possible

. One of the best ways to achieve this is to get the creditor to wave finance charges, late and over the limit fees, which usually amounts to 30-40% of the total debt. Some creditors may accept but some will refuse. If that happens, decline politely and buy time. In many instances, the creditor will send you a more favorable deal within a few weeks. Collection agencies are paid to collect debts, so their goal is to get as much as possible as quickly as possible.

Negotiating Debt With Original Creditors (DIY)

By: Debt Free Destiny

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