lump sum settlement

Lump Sum vs. Payment Plan to Settle a Debt Lawsuit: Which Gets You a Better Deal and Why

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Lump Sum Vs Payment Plan Debt Lawsuit

A lump sum settlement always gets you a lower percentage payout than a payment plan because it removes all collection risk for the plaintiff. Payment plans in a lawsuit context almost always include a dangerous “stipulated judgment” clause, meaning one missed payment results in an instant court judgment against you without a trial. Collectors assume … Read more

How to Negotiate Debt Yourself: Hardship Programs and Settlements

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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