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Verbal communication with creditors and debt collectors are a necessary part of the debt negotiation process.
How and when to communicate with creditors and debt collectors to negotiate with them is covered extensively throughout this site.
It makes little sense to start negotiating a settlement amount if you don’t have the money to pay.
Just making calls to “feel out the situation” wastes everyone’s time and could hurt your efforts later.
This information will help you focus on crossing the debt settlement finish line with confidence – when your success is documented.
When you’re negotiating directly with creditors, your settlements are generally going to be reached verbally first.It may surprise you to learn that banks and collectors do not readily take advantage of technology advancements.You will find that many internal recovery specialists (bank employee debt collectors), and outside debt collectors working for collection companies, are not allowed to email anything to you.Debt settlement letters with original creditors and debt collectors are typically a standard form that will consist of the following: The letter will have other general information, such as disclosures about settling debt.Creditors and collectors put this information in to cover themselves.Ongoing communications over the phone with your original creditors and debt collectors can progress until you have the money you need to settle.You should not attempt to negotiate an account, or offer a settlement amount, until you have the targeted dollar amount you need to fund an agreement.This would give you a 10 digit fax number that others can send documents to, and you can receive the faxed documents as attachments to an email, or receive an email notice a fax has been sent to you to log in and download, or print.One of the services I recommend to receiving debt settlement letters via fax is e One way to work around the delays of getting settlement letters mailed to you is to get them faxed to you.If you do not have access to a fax already, you can set up a virtual fax service.