When you are carry very high debt levels of $50,000, $100,000, or more, there can often be some large individual balances involved. Will creditors still agree to settle large accounts of $30,000, $40,000 or more? The answer is yes. Here is a perfect example of a client-negotiated settlement of 35% on a whopping debt balance of $37,282. This represents a savings of $24,233 on this one account! And of course the client did NOT need to pay a negotiation fee. (Most professional settlement firms would have charged nearly $5,600 for this transaction, based on 15% of the debt balance.) Also, notice that the settlement was split into three payments, which made the transaction much easier for the client to manage.

It's hard to argue with results like these. Yet this was simply a simple matter of effective business negotiation. There are a few tricks of the trade, of course, which is why you need some training and coaching to help you get started. But results like these are being achieved by people from all walks of life. You don't have to be a pro to talk to your creditors and successfully obtain settlements.

Special Note Regarding this Settlement Letter: The creditor that agreed to this settlement did not indicate the full balance in the letter, only the amount agreed upon to settle the account. While it's preferable to have the full balance shown in the letter, every creditor has different formats for their settlement letters, and as long as key requirements are met, then you can be flexible on minor points like this. To show that this was in fact a 35% settlement against a large balance of $37,282, this client was kind enough to provide a copy of the associated monthly statement for this account.

Note: The image file below is a scanned reproduction of a faxed original. The client's name, address, and account information have been deleted to protect their privacy. No other alterations have been made in any way to the originals or the digital images.