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What is the best way to settle debt?

What is the best way to settle my husbands debt that went to a collection agency?

  • My husband is in AIT at the moment and i am trying to pay all of his stuff off. One of his debts are from dish network from when he was engaged to his ex a few years ago and never got paid...it was shut off due to non payment. when i contacted dish and FINALLY spoke with a person he refused a payment plan cause it was shut off due to non payments...this has also gone to a collection agency ( i found out by his credit report) what is the best way to pay? if i have to i can use his next check and pay dish directly in full, but that leaves me in a HUGE bind but i want to get it paid off! HELP!

  • Answer:

    If the account has gone to a collection agency, deal with them, not the original creditor. Try to negotiate a pay for delete agreeement -- you pay $x and they remove it from his credit file. If this debt is more than 3 years old, offer 25%; 2 or 3 years old, offer 50%. Lump sum gets the best deals. Payment plans have to be short term. Get any settlement agreement in writing and keep it, along with your payment proof, forever. Do not give the collector direct access to your bank account. ADD: Krystal is absolutely wrong. Creditors absolutely do not have to accept any payment plan. It is an urban legend that creditors have to accept small payments!

Terri M at Yahoo! Answers Visit the source

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they cannot refuse a payment plan. they can say they wont take it but if you send it to them and they send it back or take it then they are denying/accepting it. if they send it back then they decide to take him to court for it then he could end up not owing anything because of their refusal. they best way to do it is to just make payments even if they refuse it. then if he does have to go to court for it they will see it was being paid on and refused by the company.

Krystal K

Hello, First I would give them a call to ask what is the current owing balance because due to interest and late fees the balance may be different from whats on your credit report.However just pay the principle balance that is reporting on the credit report because they have to report the account as paid because remember interest isnt reported. I would try for a credit deletion but not before you get that in writing. Also I would ask if they have a website to pay online that way after payment you dont have to worry about getting a reciept from them you can print your own.

broberts86

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