The first thing to realize in negotiating credit card debt yourself is that you are the one in power.

Remember that you’re the one in control because collection agencies and creditors want your money. In this article, you will be given the process of how to negotiate with creditors and collection agencies to have your negative items deleted and your debts owe dropped by at least 50%.

Offer a lower settlement

Begin your process of negotiation by contacting your account collections department.

If your debt is $2000, offer them $600 to settle the debt.

If they want to split the difference, don’t do it. Stick to your decision since that is all of the money that you have to pay this debt off.

Once they see that you are willing to pay, tell them that in order for you to pay this off you will need to have this item deleted as well.

In some cases, they will ask you to pay more. It may be worth the extra money to have it deleted.

What Not To Say

Warning: Don’t mention to creditors or collection agencies that you’re borrowing the money to settle your debts from your family or friends.

This is because when any time that the collection agent knows this, they will hold out and not strike a

deal with you.

You need to make it apparent that you have no money and may be claiming bankruptcy. This is the situation that you want to portray to the collection agent.

Request to Struck An Agreement

You need to have the collection agency to send you a agreement letter stating the deal.

You need to have this agreement ready before any money has exchanged hands.

In the agreement, it should clearly stated the items that will be deleted and the settlement amount you’re paying as told to them previously.

Do not send any money until you receive this letter. If you pay before, demand that you get a letter of the agreement you made prior to paying.

If they say that the deal is only good for the moment, tell them that you are willing to make the payment but you need it in writing. Don’t take any shortcuts here.

These are only part of the winning method in negotiating credit card debt yourself provided by 37 Days To Clean Credit.

There are also sample letter in the resources section of the website – http://www.raisecreditreport.info, which proven to work like magic. Start to take the step to clean your credit report before the damages are too late to recover.

You may also find case studies videos and other key ingredients in the website that I left out in this article, which is vital on your action plan.