How to settle debt: 4 things to consider

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4 things to consider when you’re settling debt. How do you settle a debt? How to settle debt yourself? #diy

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@pushersco3100 says:

So I have a question frontier communications are trying to say that I owe $164 for unturned equipment. However, the technician came and installed new equipment took the old equipment and now saying that I owe this debt. How would you approach this? would you write a letter and send it to the debt collector?

@pushersco3100 says:

Doesn’t harm you if you call a credit card debt collector to try to settle a debt

@breonnastraus says:

I am maxed out $14,000 on a Discover card. I want to call to negotiate a lump sum settlement payment and then close my account and provide me with a confirmation of payoff/settlement letter. I’ve always made my minimum amount due though because it’s on auto pay. What are the chances they will still settle with me and close my account for one large lump sum payment? What’s a typical lump some payment amount they accept/settle for?

@jayl3132 says:

If you settle instead of paying in full will the account be deleted from your credit report?

@mamisomorales4474 says:

i owe 9000 in a chase credit card i been thinking calling them settle for half of whay i owe them will this hurt my credit i dnt even want this credit card any more

@togodbetheglory3353 says:

After the balance is zero will they let me keep the card and have an open account?

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