Can I negotiate a settlement w/o a missed payment?

[crucifixion]

This guy's a troll folks.

Amazing! Is this the price for "free advice"? I mean, really?

I'm in a situation where I could payoff about 50% of my debt with cash, or use that cash and negotiate a settlement for 100% of it. I dont understand why some here feel necessary to attack me.

 

[Zigner]

Amazing! Is this the price for "free advice"? I mean, really?

I'm in a situation where I could payoff about 50% of my debt with cash, or use that cash and negotiate a settlement for 100% of it. I dont understand why some here feel necessary to attack me.

You're asking for advice on how to steal...not gonna happen.

 

[Country Living]

You’re not getting it. You bought (and used) $50,000 worth of goods and services with money you borrowed and promised to repay. Now you only want to repay just half of that amount. It’s morally repugnant that someone has the financial resources to repay the money they were lent on good faith and then refuse to live up to their financial obligations. It’s thievery.

Mommy and daddy must be so proud!

 

[>Charlotte<]

Amazing! Is this the price for "free advice"? I mean, really? I dont understand why some here feel necessary to attack me.

Look at it from this perspective:

Dear FA: I have a contract with crucifixion wherein I agreed to buy something from him for $50k. How can I get away with paying him only $25k?

It's the same principle, and you'd be screaming bloody murder.

 

[crucifixion]

I only had the idea due the numerous debt settlement ads I see.

I understand the principle behind paying the balance in full, but then how does that explain these debt settlement companies?

I know some are fraudulent- they take your money and provide no services.
But some have to be legitimate.

And for those legitimate ones, that means the creditors agreed to take less than 100% of what was owed.

That means the system is allowing situations in which less than 100% of a balance due is paid and the account is settled.

So I don't understand why people would look down on me for exploring an option that the system has. Its not cheating the system when they AGREE to take less than 100%. I can understand if this has never been done before and here I come asking to take less than 100% with a slogan of "theres a first time for everything". But thats not the case. There are banks/creditors that are taking less than 100%. For whatever reason they are.

Am I to be insulted for considering that an option?

 

[Country Living]

Am I to be insulted for considering that an option?

Yes. You have the ability to repay your financial obligations. If you don’t, then that burden falls on the rest of us in the way of higher commodity prices and/or higher interest rates. We shouldn’t be put in a position to support your lifestyle.

 

[dharvell]

All you need to know is right here:
Debt cut in half? Don't count on it - The Red Tape Chronicles - MSNBC.com

Read... learn... pay your debts, the right way.

 

[ecmst12]

And I already explained to you why settlement offers are only entertained or discussed when the account is deep in default, usually after it's been charged off by the original creditor and sold to a collection agency.