I am going to be getting some money pretty soon and I have a question. How do I go about negotiating with my creditors to settle for less AND to get them to take the negatives off my credit reports?? I know that I will need to get it all in writing, but where do I start? Do I just call them up and say I want to pay this off but...... Please help! oh, and thanks so much for your valuable info! I get caught reading this board everyday and the time just flies by because I get so engrossed in all the useful information! You guys are the best!!!!
I think your best bet is to put it in writing to them with the terms of your offer i.e. deletion of the trade line. Everything should be in writing before you pay back anything. This will avoid any misunderstanings. Good luck. Manny
I am most likely to also be in a positon of getting some extra money after a while, and what I will use most of it for is to increase my investment portfolio, not pay off those who have little or no interest in any negotiatons I might want them to make. The first settlement with my remaining creditor will probably just be for the return of the two houses they repossessed 5 years ago. Once that is completely settled, then I will be going back into court and sueing for the 5 years worth of back rent on each of the two houses plus interest, carrying charges, and whatever else might come along with it. That should amount to at least $60,000 or a bit more. There will be other suits I will file after that too, but most of that will be going into some moderate growth mutual funds so that it will increase as rapidly as possible. That's what I'd be thinking about if I were you too. A bit of money can grow to be a huge chunk after a few years if properly invested. Just something to think about.
