Negotiating payoff balance

[Anonymous]

Is it better to negotiate a reduced balance payoff directly with CC company or use a debt settlement company.  I am aware of the fee they will charge.  They are telling me not to take the calls, nor to contact the CC directly.  I am just getting started in clearing debt and moving forward to rebuild credit and need to do the least damage possible while struggling to keep my head above water.  The amount is over $10,000.  Any help would be greatly appreciated.

[rebuildcc]

Do not use debt settlement company. I heard someone has successfully negotiated with CC directly and got a payoff 1/5th of the debt. I am wondering if anyone would share a letter template ... Thanks

[Elcid89]

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@rebuildcc wrote:
Do not use debt settlement company. I heard someone has successfully negotiated with CC directly and got a payoff 1/5th of the debt. I am wondering if anyone would share a letter template ... Thanks

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+1

Try to negotiate directly with the creditors BEFORE it goes to collections. It will still post as a settlement, but you can avoid the further damage of reported collections. Debt settlement companies are, IMO, uesless.

[CashOnDelivery]

@rebuildcc
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