If you are a DIY reader, be sure to participate in the comment sections of relevant page topics in order to get feedback about timing and targeting for your debts you are looking to settle.
The comment section at the bottom of this page is the perfect place to post questions about a settlement letter you have received, or what you could do if you’re having a hard time getting one sent to you.
There are some instances where I will recommend you record a phone conversation about agreeing to settle a debt.
I always encourage you to tell the debt collector that you are recording the call and why (they refuse to send you the agreement in writing before payment is set up).
Reaching a settlement agreement can take one phone call, or it may take several calls over a period of days, weeks, or even months.
When a deal is struck, you know that no deal is a real deal until it is documented, and then paid in accordance with the agreement.
Reaching the point where you have a verbal agreement to settle and pay off a debt for an amount you can afford is exciting, and a relief at the same time.
You must be careful not to lose sight of what are still critical concerns before celebrating your success.
This information will help you focus on crossing the debt settlement finish line with confidence – when your success is documented.
When you’re negotiating directly with creditors, your settlements are generally going to be reached verbally first.
Verbal communication with creditors and debt collectors are a necessary part of the debt negotiation process.
How and when to communicate with creditors and debt collectors to negotiate with them is covered extensively throughout this site.
Ongoing communications over the phone with your original creditors and debt collectors can progress until you have the money you need to settle.