How to negotiate a settlement
Since I have referred three or four people to this in the last 24 hours. Here it is again.

How to negotiate a settlement:

1. Plan your call and set your goals before calling.
If you want to settle for 50% start negotiating at 25%.

2. Make no solid agreement on your first phone call.

3. Make sure you have the money to pay an agreed settlement immediately

4. Sit at a table with a notepad. Take notes of everything being said. (The collector is I promise you)

5. When you are talking to the collector, remember that the money you will be paying this is with is being given to you by your wife's uncle or something like that -- he has offered you $x - with x being your starting point in the negotiations.

6. Remember X is all the money you have to work with on this call. If the negotiation goes higher and you hit your goal tell them you have to have it in writing so you can bring it to your uncle and ask for more.

7. Make no promise to pay without the written settlement agreement. Don't pay or make a promise to pay on the first call.

8. Remember you are dealing with trained negotiators. If the collector becomes excited or you feel is getting abusive simply say, "Obviously we both want to take care of this, but I feel you and I aren't communicating well. May please speak with your supervisor?

9. It will take more than one call to do this right. You will need to take copious notes and make sure you get the names of who you talk to.

10. If you are concerned that you will not be able to handle the negotiation yourself, there are professional negotiators, but that is a pricey alternative and the possibility of the settlement going your way when you are paying for representation is much lower.

DC