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Is it a good idea to offer a credit company a settlement amount for the debt? |
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Sometimes.. On the other hand, they might just raise your interest rate, thinking you could be a high risk. Depending on the circumstances a creditor is reluctant to settle for less than the full amount, unless a lawsuit has been initiated and is in mediation. You need to look at all the pros and cons before making any proposals.
First answer by Nikki MacMillan. Last edit by Nikki MacMillan. Question popularity: 52 [recommend question]
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