Negotiating With Creditors

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Most Common Finance Law Issues:

Am I Able to Negotiate with Creditors to Pay Off Debts and Save My Credit?

Consumers are always free to negotiate with their creditors to pay off a debt. You should keep in mind, though, that for the most part it is up to the creditor as how far they are willing to negotiate, if at all.

Usually a creditor will be quite open to negotiating the payment of debts to some extent because the creditor wants at least some, if not all, the money owed to them. Driving your credit into the ground will not help them accomplish this goal.

How Do I Negotiate with Creditors?

Your ability to negotiate with your creditors will depend on how much leverage you have with which to negotiate. There are several elements that determine what leverage you might have to empower your strength in negotiations:

Seeking Legal Help

You may want to speak to an attorney who has experience with consumer credit. Your attorney can explain what protections you have under state and federal law, help you decide on a course of action (legal or otherwise) to alleviate your debts.

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Last Modified: 12-08-2014 08:58 AM PST

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