Credit - Collection Lawyers, Part 2

If a creditor's attorney is handling your account, as with all negotiations, be nice. Explain that you wish to do the best you can to resolve the issue-just as you would say to any other creditor. Don't panic. Your negotiations will be the same. However, if legal action is imminent and you get a notice to appear in court, by all means get a lawyer without delay. Remember, attorneys always threaten legal action, and it's not a huge issue unless they actually do. Again, this often hinges on what they can take, what your state's laws are concerning property and liens, and so on.

Even if you're served, you can most often settle before the court date, and a good attorney can assist in negotiating if you think you need one. In fact, answers usually aren't even required for 30 days from service, which leaves you lots of time to contact the attorney and reach an out-of-court settlement.

If you owe more than just a few dollars, you have to assume that the opposing lawyer has researched you to find out your place of employment, salary, assets, and obligations. The lawyer may have some or all of the facts, and you must try to discover what has been uncovered if possible by letting him or her speak.

As in all negotiations, don't tell on yourself. If you make a good salary, own property, and have money to burn, why supply the motivation to sue you by saying so? Stick to the facts about the debt and explain that times could be better. (This is not a lie, since times can always be better.) You want to make the attorney think that there is nothing to be gained from suing and it is in everyone's best interest to settle. If lawyers (or the creditor who is paying them) believe it's more cost-effective to settle, they often will; appeal to the sensible part of their nature. As always, get any settlement agreement with an attorney in writing and view any agreement that's been drafted with caution.

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