Debt Views

One thing to remember, as you speak to a representative, they are taking notes and these notes go into your account information permanently. Keep your story simple and straightforward. Don’t lose your temper or swear with a rep.

Once you call, ask for the customer service department. When the agent gets on the phone, ask for the status of the account. If the account is in collections, you may also find that you will be transferred to the collections department of the company. Don’t panic, this is all normal. Once you get the right customer rep on the line, ask them if they would be interested in considering an offer to settle the account, or if you have to go through the collection agency currently handling the account.

If the answer to the question "will you consider an offer to settle" is yes, don’t be surprised if you are made an offer on the spot. If you like the offer, tell them you will be following up with a letter and a fax, and where the paperwork should be sent. Keep in mind, though that you can usually get a better deal than the one offered. Ask for the representative’s first and last name, and direct telephone number. Never give them the money at this time, though they will try to get you to pay by check by phone or a credit card. You absolutely need a written agreement between you and the creditor before you sent them a single penny. If you don’t like the offer, tell them you will think about it and get back to them. Again, ask for an address and fax number If they don’t make you an offer, find out where to send the offer in any case. Be sure to get the first and last name of the person you spoke with, and their direct phone number if possible. If they say that they won’t consider an offer (this rarely happens), thank them and ask for mailing and fax information. The rep may not be aware of settlement programs or may just be plain wrong.

So what’s the point of this initial conversation? Mainly: we said it three times; get the mailing address and fax number, customer service rep name and direct telephone number. The kind of personal circumstances a creditor likes to see What makes a creditor say ‘yes’ to a debt settlement?

In very rare circumstances (like never) creditors agree to help you out of your debt problems because they are nice people. Creditors agree to a plan because they may feel this is their only chance to get money from you. Their thinking is that some money is better than nothing. You can help this impression along by hinting that your only other option is declaring bankruptcy. However, no matter what you may hint or flat out state to them, creditors have their own ways of determining if you are teetering on the brink of bankruptcy.

Author: Evelio Areas

http://www.creditsecretsbiblehub.com

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