Debt Settlement Agreement in a Debt Lawsuit: 10 Required Terms

Debt Settlement Agreement Debt Lawsuit

Never pay a settlement based on a verbal phone agreement. You must have a signed written contract in your hands first. A complete settlement agreement must include the words “dismissal with prejudice.” Without this, the collector can take your money and refile the lawsuit later. Ensure the document includes a “covenant not to transfer” to … Read more

How to Negotiate Debt Yourself: Hardship Programs and Settlements

How To Negotiate Debt Yourself

Your ability to successfully negotiate debt depends entirely on two factors: how many days delinquent the account is, and whether the original creditor or a debt buyer owns it. If you are current on your payments, do not ask for a settlement. You must ask for a hardship program, which typically involves temporary rate reductions … Read more