Here's another example of a good settlement through a collection agency working on behalf of a tough
creditor. With a little training and coaching, this client was able to successfully achieve an excellent
result, thereby saving $14,285 of a $25,785 debt, for a net settlement at just under 45%.
The simple
reason that deals like this are possible is that collection agencies can only get paid if they work
out a deal with you, and the agencies greatly prefer settlements so they can get paid all at once. You
just have to understand how this process works and how to correctly present and time your settlement
offers. Bear in mind that some so-called "experts" out there advise people to never talk to collection
agencies by telephone or settle with them. That's just plain bad advice, and this example shows why!
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.
