What if a creditor or collection agency won negotiate?
If a creditor refuses to accept a reasonable settlement offer at the time it is proposed, it is usually simply a matter of waiting for a different phase of the collection process. Some creditors are more inclined to play “hardball” than others, but virtually all of the major institutions eventually sell their accounts to debt purchasers in order to recover what they can on the account. Since the debt purchasers buy these accounts for pennies on the dollar, they are more inclined to accept reasonable settlement offers, which still represent profit on their purchases. Our Exclusive Do-It-Yourself Debt Negotiation Program will teach you how to handle the different phases of the collection process as well as how to work with your creditors or bill collectors representing your creditors to help you time your offers to maximize your chances for success.
