Resolve Debt

If you are looking for information on how to write a credit card debt settlement letter to attorney‘s, then you have found the right place. We will be going through all the steps you need to take in order to craft the perfect letter to hand to your attorney. After reading this article, you will be much better prepared to win you credit card debt settlement case.

The first thing you must do is research. You need to be familiar with taxes, interest rates, and fees that are related to your case. Often times there are annual processing fees that may be added on to your total debt, so be aware of this. After you have identified all the items you will need to find the total debt that you owe.

Your next step is to try everything you can in order to find enough money to settle with your creditor. If you have this reserve money then you will have a lot better chance of success with your negotiations. You do not need to have the full amount of the debt that you owe, but you would like to have at least 70% of the total. You want creditor to take you seriously, don’t you?

You will now want to make a draft of your settlement letter. Do no worry about making it perfect because your attorney will help you with this. You just want to get down the main points. By taking the time to do this background work yourself, you will save a lot of money on attorney fees.

After you and your attorney have worked on the letter for a sufficient amount of time, it is important to keep track off all letters that you receive from your creditors. By keeping a record of these you will be able to protect yourself more sufficiently in a court of law.

If your creditor agrees to reduce your debt you must still be cautious, credit card debt settlement can be tricky at times. You need to get a letter, not an oral promise, that the amount they are asking you to pay will deem your account “paid in full”. If you get no such letter, then you should not send them a dime.

Finally, if an agreement is made and you have paid your account in full you still need to do one final check. You must look at your credit report and see that your account is paid. If your credit report is still not reflecting the change after 3 months, then you have a problem. I wish you luck!