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by Anonymous on March 11th, 2009

Anonymous

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I won a lottery scratch off ticket. Less than 100,000 after taxes. I would like to pay off ALL of my existing debt, including car, and I am doing the math. In this economy, do some creditors take a lower payoff? I had too much debt. How do I negotiate?

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Answers. 1 helpful answer below.

  • by carebear on March 12th, 2009

    carebear

    Many will take a lower payoff but be sure to get it in writing. You don't want to get 2 years down the road and find the remainder of your bill on your credit report. They do that all the time. Send them a certified letter asking them to reduce your debt. If you know excatly how much you can afford to pay make them an offer for that much. They may accept. The worst they can do is say no.

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You're reading I won a lottery scratch off ticket. Less than 100,000 after taxes. I would like to pay off ALL of my existing debt, including car, and I am doing the math. In this economy, do some creditors take a lower payoff? I had too much debt. How do I negotiate?

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