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Ask Dr. Don: Negotiating a debt settlement

Date: October 13, 2004
Author: Dr. Don Taylor Ph.D., CFA, CFP
QUOTE: If you're current on your bills, credit card companies aren't going to negotiate with you and accept 50 cents on the dollar. If they've already written off your account, they may be willing to negotiate and accept partial payment. With partial payment the ideal situation is to negotiate with the creditor to accept both partial payment and list your account with the credit bureaus as "paid as agreed" or "paid in full."

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