DIY Credit Repair Course Module 9: Negotiating With Debt Collectors

Negotiating With Collectors One thing is certain about all businesses; they want to generate revenue. Collectors collect an unbelievably low amount of the debt they purchase, usually less than 1% per month and less than 20% overall, with almost all of that amount coming from lawsuits. If your debt is several years old and of an appropriate size, and you send them a payoff offer, they will listen. Remember that when you offer a payoff amount to a debt collector, whether for yourself or your client, it is possible to inadvertently “restart” the debt clock. What this means is that when consumers are contacted by a debt collector, if they “acknowledge”  the debt or make a partial payment, it could “restart” […]

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