2. Negotiate with your creditors. Most of your bills will have large penalty fees and interest tacked onto the balance, making it higher than the amount with which you started. Come up with a number that you can pay the creditor and make them an offer. For example, if your bill is $1,000 make an offer of $400 to settle the account within three days. Get it in writing before you pay it.
For the best results, have the money ready to send once you have made an agreement and gotten it in writing from the creditor that they will accept the payment as payment in full.
Never make a payment until you have the written agreement in your possession. Make your offer at the end of the month when the creditor is trying to close out their accounts.
