If you are one of the lucky ones, you still have a job and thus have income coming in. For the truth of the matter is, there are many without a job, and thus without income. These people likely already have a mound of debt over their heads and with each passing day, that debt is getting bigger and bigger. That means phone calls are coming in incessantly from creditors demanding their money. This is especially true if the debt includes credit card debt.
Credit card collection agencies are some of the most ruthless in the industry. Not only will they call you all the time but they will often call your job and your family in an attempt to receive payment. They can cut off your credit at any time, they can limit the amount of credit you have or they raise your interest rate to insane levels. If you have a lot of credit card debt, and you are desperate to try and stop the phone calls, you may want to request a credit card debt settlement.
If you are out of work and have no income coming in, send them a credit card debt settlement letter stating this fact and promise to pay them as soon as you have income coming in. If you have a job and are able to pay off your credit card debt settlement now, give them a call and give it a try. You never know what might happen and it just might work.
Why A Settlement?
You may be wondering why a credit card company would accept a settlement for less than the money you owe. The fact is they just want their money. If you don’t pay anything, that means no money coming in for them. They would rather receive something from you than nothing at all. Of course whether or not they accept the credit card debt settlement depends on the supervisor on duty, how much you owe and how long you’ve been delinquent.
If you have been delinquent many times prior to this time and it’s been going on for years, the credit card company is unlikely to accept a credit card debt settlement offer. However, if the credit debt is really old or you’ve been a good customer and you just now fell behind, give them a call and try to negotiate a credit card debt settlement as you may find yourself lucky that day.
What To Say
Now that you’ve decided you’re going to go ahead and ask for a credit card debt settlement, the thing to do is call the company and ask to speak to a supervisor. Once you get on the phone with a supervisor, tell them who you are and request your credit card debt settlement. Tell them you’ll pay half. That should get the negotiations started. If they don’t accept, ask them what they will accept. If they high ball you, request a lower amount. Do this until you either give up as they are asking too much or they accept your offer.
The great part about a credit card debt settlement is that you’ll have your debt paid off and you’ll typically pay less than you would have had you paid the amount you actually owed. It’ll be a huge weight off your shoulders and that right there makes it worth it to at least ask.