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Debt settlement negotiation can be a difficult process, so you should know the main strategies to use:

  • Hint at bankruptcy. No matter if you really think about filing for bankruptcy, make your creditor believe that. According to both types of bankruptcy, almost the entire amount of your obligations can be discharged. So the creditor gets nothing.
  • Make a lower offer. You may spend some time, but eventually you can settle your debt for about 30 to 50%. So, begin your negotiations with a lower offered amount, for example 15% of the total amount.
  • Have money to make the payment. The debt settlement is agreed more likely, if you have cash to make the payment right now.
  • Know the entire situation. You might be proposed to settle not all your credits. But your goal is to eliminate all your obligations, or at least the biggest ones. Negotiate for such a debt settlement, as any other variants make no sense.

Look here to get better understanding of the debt settlement:
What is a debt settlement program?