Do It Yourself Debt Negotiation
How to Settle Your Unsecured Debt For Less Than You Owe
- Settle your unsecured credit card debt for less than half of amount owed
- How to avoid letting debt collectors talk you into paying much more than you owe
- 21 sample letters you can use to negotiate debt with creditors and debt collectors
The information in this section was NOT compiled by an attorney, but rather a degreed accountant, J. M. Boyd, with years of experience working for both government and private attorneys collecting delinquent debts, taxes and other types of accounts. The information contained in this section is to provide information on the subject of debt negotiation and should not be construed as rendering to you legal, financial or other professional advice by its author.
How to Deal with Debt Collectors
Negotiate Settlements on Unsecured Debts
Federal and State Laws Regarding Debt Collection
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The debt negotiation and debt settlement topics discussed in this section refer to credit card debt and other types of unsecured debt such as deficiency judgments (from defaulted auto loans), medical debt, payday loans, unsecured personal loans and such. You generally cannot negotiate secured debt, such as mortgages and car loans. If you don't pay, the lender will foreclosure on your home or repossess your car. And, although student loans, alimony and child support are unsecured debt, they are not negotiable. Tax debt is negotiable sometimes.
The debt negotiation section of this website contains general information about debt negotiation involving alternate repayment plans and reduced settlements. Twenty one sample letters are provided as samples you can use to try and negotiate a reduced settlement regarding your unsecured debt, paying as little as 25 percent of the debt as payment in full. To navigate this online debt settlement kit from beginning to end, click on the first link below and follow the navigation arrows located near the top right side of each page, or skip to a specific topic by clicking a link below.
Debt Negotiation -- Table of Contents
21 Sample Debt Negotiation Letters Addressed to Creditors and Debt Collectors: