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How do you settle debts with collectors?

Updated: 8/20/2019
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11y ago

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Find out if you have more leverage or if they do. Is the account passed the statute of limitations for the creditor to sue you in your state. If this time period is passed, then they can no longer sue you, and you have the leverage. Most accounts can only remain on your credit report for 7 years, so if an account is approaching this timeframe, then collection companies are often willing to settle for much less on the debt. These are just a few tactics to get started.

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