Appeal to the Debt Collectors sense of compassion
When you are negotiating a debt settlement, it is important to appeal to the debt collectors’
sense of compassion.
Understand that a debt collector is also human. This may be hard for anyone to believe as
most times they portray themselves as being leeches.
Express the dire situation that you are experiencing and try to get the debt collector to
relate to your situation.
By taking this approach, you will strategically get the debt collector on your side and you
may find that the debt collector will go to bat for you. In a sense you will have a ‘friend on
the inside’ trying to convince the ‘powers that be’ to accept the settlement offer that you are
making.
Proceed with caution however. Debt collectors are trained professionals. They also have
access to your credit report and can decipher to a certain extent how strapped you most
likely are.
sense of compassion.
Understand that a debt collector is also human. This may be hard for anyone to believe as
most times they portray themselves as being leeches.
Express the dire situation that you are experiencing and try to get the debt collector to
relate to your situation.
By taking this approach, you will strategically get the debt collector on your side and you
may find that the debt collector will go to bat for you. In a sense you will have a ‘friend on
the inside’ trying to convince the ‘powers that be’ to accept the settlement offer that you are
making.
Proceed with caution however. Debt collectors are trained professionals. They also have
access to your credit report and can decipher to a certain extent how strapped you most
likely are.
Something else to keep in mind.
Some debt collectors work on
commission. This being the case, you
might get lucky and talk to a debt
collector that is so close to hitting
their bonus that your settlement offer
just might put them over the top. It
just might serve you well to make the
settlement call towards the end of
the month.
Check this out. Explain that you may
not be able to raise the kind of
money that you are offering towards
the debt settlement for a very long
while. Make it clear to the debt
collector that if they do not accept
your settlement offer now, you will be
Some debt collectors work on
commission. This being the case, you
might get lucky and talk to a debt
collector that is so close to hitting
their bonus that your settlement offer
just might put them over the top. It
just might serve you well to make the
settlement call towards the end of
the month.
Check this out. Explain that you may
not be able to raise the kind of
money that you are offering towards
the debt settlement for a very long
while. Make it clear to the debt
collector that if they do not accept
your settlement offer now, you will be
calling the next creditor on your list and offer them the money.
In today’s litigious environment and the shape that the economy is in, you might find that
debt collectors are more willing to listen and are more readily willing to accept offers to
settle outstanding debts.
Currently, the leverage is tilted towards the consumer. There should be no reason why you
should not take full advantage of this fact.
It is not unheard of for settlement offers to be as little as 25 percent. That is 25 cents on
every dollar that is owed.
With all that you have read thus far, do not be so stubborn to refuse a reasonable
settlement offer.
If 70 percent is the best it’s going to get, take it. Just be sure to get the creditor to agree to
delete the account from your credit report or at the very least report the account favorably
on your credit report.
Debt collectors cannot help but be hot heads and the leech in them may rear its ugly head.
(If leeches have heads.) Just don’t lose your cool. Stay in control.
If the debt collector refuses to cooperate with you, kindly terminate the call and try another
day. You might get a more reasonable debt collector to take your call.
Look, there is nothing wrong with using all that you can to your advantage when it comes to
negotiating a debt settlement offer.
Keep in mind that the creditor is interested in resolving your outstanding debt. The more
debt that is cleared off their books, the better it is for their bottom-line.
In today’s litigious environment and the shape that the economy is in, you might find that
debt collectors are more willing to listen and are more readily willing to accept offers to
settle outstanding debts.
Currently, the leverage is tilted towards the consumer. There should be no reason why you
should not take full advantage of this fact.
It is not unheard of for settlement offers to be as little as 25 percent. That is 25 cents on
every dollar that is owed.
With all that you have read thus far, do not be so stubborn to refuse a reasonable
settlement offer.
If 70 percent is the best it’s going to get, take it. Just be sure to get the creditor to agree to
delete the account from your credit report or at the very least report the account favorably
on your credit report.
Debt collectors cannot help but be hot heads and the leech in them may rear its ugly head.
(If leeches have heads.) Just don’t lose your cool. Stay in control.
If the debt collector refuses to cooperate with you, kindly terminate the call and try another
day. You might get a more reasonable debt collector to take your call.
Look, there is nothing wrong with using all that you can to your advantage when it comes to
negotiating a debt settlement offer.
Keep in mind that the creditor is interested in resolving your outstanding debt. The more
debt that is cleared off their books, the better it is for their bottom-line.
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God Bless.
Carlos Cruz
Debt Credit Learning Center
Carlos Cruz
Debt Credit Learning Center