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If you have ever owed someone money, then you have probably had a first-hand experience with the harassing calls. On almost a daily basis, creditors will call multiple times, threatening to sue you, garnish your wages and more if you don’t pay what you owe. You may have even gotten a few letters in the mail and possibly an email or two with the same threatening message.

Overwhelmed by the thought of legal action being taken against them, many people have scraped up change and done whatever they could to get the money to their creditors in a timely manner. Although paying the full amount is what most creditors would prefer, debtors don’t always go with this option. In fact, many debtors negotiate with their creditors to get them to agree to a lesser amount.

When you negotiate with your creditors, they may actually work to come up with an amount that they will accept that is less than what you owe. This is because they want to receive a payment from you, and if you are experiencing financial challenges, it is apparent that the chances of them receiving the entire sum of money owed to them are slim. To them, any amount is better than nothing.

People fall on hard times and have difficulty paying their bills, whether it is due to unemployment or a different circumstance. This is something creditors understand, but of course, they will continue to call and harass you until they receive a payment, small or large. Before completely giving up and accepting defeat, attempt to work something out. Should you need legal advice or have more questions about debt collections, it would be helpful to speak with an attorney at The Law Offices of Patrick Cordero, PA.