You can of course call the companies. You also need to state, what you propose to repay each of the accounts.

Hi my daughter has gotten herself into a fix and had about $5000 worth of debt can i call the companies and negotiate pay off if so what do i need in order to show how much needs to be paid to write it off ?

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You can of course call the companies. What you need to do is, contact each of the creditors and provide them with a detailed income and expenditure form, outlining what you have as income, and what all your outgoings are. You also need to state, what you propose to repay each of the accounts. However, a creditor is more likely to accept the plan if it is set up by an experienced professional.

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You can of course call the companies. What you need to do is, contact each of the creditors and provide them with a detailed income and expenditure form, outlining what you have as income, and what all your outgoings are. You also need to state, what you propose to repay each of the accounts. However, a creditor is more likely to accept the plan if it is set up by an experienced professional.

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When you plan to negotiate your debts with the creditors make sure that you prepare a list of your total outstanding balance. It is recommended to take out a copy of your credit report from each of the three popular credit reporting bureaus Experian, Equifax and TransUnion before you start negotiating with them. Try to review your credit report to locate any discrepancies as it might help in the process of negotiation. It might be difficult for an inexperienced negotiator to get a suitable deal. Therefore, it is advisable to hire a professional debt arbitrator to make the outstanding balance affordable to pay off. The experts have the experience and skill to negotiate an appropriate repayment plan on your behalf and guide you through the settlement procedure.


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