How to Negotiate Debt Settlement on Your Own

With do-it-yourself debt settlement, you negotiate directly with your creditors in an effort to settle your debt for less than you originally owed.

This strategy works best for debts that are already delinquent, or not paid by their due date. That’s because as creditors start to see missed payments stack up, they may be more open to a settlement offer, since partial payment is better than no payment at all.

Here’s how DIY debt settlement compares to using a debt settlement company and how to successfully negotiate with a creditor on your own.