Every now and then; you get some collectors that come on here and they want to preach the Jim Baker Gospel. The bottom line to all debtors out there; you do not have to settle your debt with the collection agencies, you can settle with the creditors. All you have to do is; call the creditors customer service and ask for the fax number of their collection department. When you get their fax number; start writing a letter of your financial hardship stating you want to settle your debt for a certain percentage.
If the creditors tells you that you have to deal with the collection agency; just tell them the collection agency is being rude and unprofessional and the debt will go unpaid if you can not settle the debt directly with them. The creditor will see your serious and will want to settle your debt. I settled over ten debts that were in collections and I started to negotiate directly with the creditors. The collection agencies didn’t like it but too bad; I wasn’t handing over money to a collection agency that didn’t deserve it. I also had a couple ombudsman’s at these financial institutions intervene and help me settle my debts.