How to settle debts with collection agencies written by kristy welsh settle debts on your own with our debt settlement techniques last updated june 12 2017 some people are skeptical saying it is impossible to settle a debt that is being handled by a collection agency we are here to tell you that you can settle an outstanding debt being . Obtain a debt settlement letter get your agreement to settle the debt in writing do not accept verbal promises instead insist on a settlement agreement letter and read it thoroughly before signing you want the agreement to state you are forgiven for the original amount of the loan. If you have credit card debt and you want to settle it pay less than what is owed heres how preface i wrote this article assuming that you are behind on your credit card payment and it is . Settling your debts now we know the two worst case scenarios to avoid lawsuits and bankruptcies in order to do this you can employ several strategies to settle your debts with collection agencies read each one carefully to find out which ones might work best for your personal situation. Before negotiating a settlement with a debt collector learn about the debt and plan for making a realistic proposal what is the best way to negotiate a settlement with a debt collector tip be wary of companies that charge money in advance to settle your debts for you dealing with debt settlement companies can be risky some debt
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