debt

5 debt settlement do's and don'ts

Be prepared to show your financial cards
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Be prepared to show your financial cards

Before they agree to settle your account, creditors will ask for documentation of your income, your assets and all of your existing debts. They'll want convincing proof of your hardship.

"They want to make sure that the person they are going to be offering this settlement to cannot pay (the full debt) and is not just looking to save some money... and that the only way they can expect to get some of their money back is through some kind of concession," Graves says. "They don't want to offer concessions to individuals that just want a deal."


 

 

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