Does The Creditor Have To Have A Good Reason To Want To Settle?
If the account is paid current and there is no recent history of late payment, it will be difficult to convince the creditor that it is in their best interest to settle. (This should not be read as a recommendation to stop paying bills that are current. If you stop paying your current bills, you will almost certainly make your credit situation worse.) Perhaps bad credit is not an issue for you at this point and you feel you must stop paying your bills in order to settle them and get back on top of your debt load. If this is the case, you make that decision at your own risk. In other words, don't do it.
Speak to an Experienced Creditors Rights Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified creditors rights lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local creditors rights attorney to discuss your specific legal situation.
Additional Creditors Rights Articles
- Do Creditors Have a Certain Amount of Time to Sue for Payments?
- What are unsecured debts and how does an unsecured creditor collect on a debt?
- Can A Creditor Negotiate A Credit Rating?
- Where Does The Creditor Get His Profits?