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Letter from creditor?

Georgia Boy N Wife

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Guest sifxpert

First of all, if they are offering an amount to you, you can get them to go lower =) What you should do if you are considering settling this account is contact them, tell them you only have 5k, you have nothing else to pay and you even went and sold all of your mickey mantle baseball cards to try to come up with the 9k but won't come anywhere near the 9k. I guarantee they will come down to at least 7k. You have to wait until the last few days of the month though.

Have them put the new deal in writing. Ask for a "settlement letter" which is a written contract. Make sure the letter states something along the lines of "no further obligation". Pay them, save bank statement the month you pay as proof of payment and of course, your settlement letter.

You could only hope someone tries to collect the remaining balance so that you can get your 5k back when you sue for breach of contract.

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