Settlement Offer
Date: Mon, 07/18/2005 - 12:12
Settlement Offer
I'm being sued for $5400. What percent of that $5400 is a reasonable offer to my creditor?
Hi Connelly Welcome to the forums. The offer to settle the de
Hi Connelly
Welcome to the forums. The offer to settle the debt with your creditor varies from person to person. But if you enroll yourself with a debt consolidation company, the consultant will negotiate with your creditor for reducing the total amount of your debt by 40% to 60%. So, for a debt of $5400, you might be required to pay the actual amount only i.e.. close to $2700
Make sure that when you deal with your creditor; get everything in writing because the written contract will serve as the legal document for your payment efforts made to your creditors.
Regards
Roxette
