ok, about 7 months in i got the letter, "In an effort to resolve your charged off account..."
they want to settle for 40% and will mark my credit report 'settled in full'
fine print at letter specifically mentions i will get 1099'd
im looking for advice on negotiating. my current strategy would be:
-offer them 2% as thats all i have available, as i will have a large, non-negotiable tax burden that i will need to pay
-when we do finally come to a number between 5-10% agree on the condition that they do a pay-for-delete. i know this is a long shot but i have to try.
any other tips on negotiating? based on advice from here (which has been spot-on so far), i would not be providing any form of financial documentation to them and i will not settle for anything over 10%.
Is it best to communicate in writing or talk to them on the phone