Question: If I have collections, judgments how do I negotiate lower pay-offs? What is a realistic percentage to pay off the total debt? How do I negotiate for removal of the debt once paid, if possible?
Answer: You can negotiate settlements directly with the original creditor or collection agency, whichever currently has ownership of the debt. Settlements can vary and can go as high as 80% off depending on the debtor and the age of the debt. You can simply ask to have the debt removed upon receipt of payment. Remember, if you don’t ask the answer is always “no”.
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