Can a debtor negotiate a settlement on their own?
As a debt analyst I get this question asked quite a lot. Many people feel it would be better to attempt debt settlement by doing it own their own. Instead of through using a professional firm. One of the best reasons to use a debt settlement firm is because they have the proper connections to the right people within the collections industry to achieve very low settlements. Your average debtor has no clue of this and may end up accepting a horrible settlement when they could of accomplished much more. So one of the cardinal rules of debt settlement is knowing the proper people in which to get in touch. Usually the correct manager of a debt collection office wiill do, not the simple collector who will harrass you.