“Standard” Won’t Do

Today, one of Provanta’s debt negotiators was attempting a settlement for one of our clients with a Successor In Interest or Debt Buyer.

As our negotiator opened dialog with the agent, he was given the “standard.”  This agency’s “standard” settlement offer is 60% of the current balance, which would be $4,879.00 on this client’s debt.  The negotiator countered the agents offer with an offer of $1,640.00, which was only 20% of the current claim.  She emphasized that the client’s account is more than four years delinquent and that recovery, no matter how small, should be an important part of their decision.

She was hoping to get them off of their “standard” and go lower, and she was pleased when they came back with 25% of the current claim as an acceptable settlement amount. The client is now getting a settlement of $2,032.00 on her $8,131.00 account, which amounts to almost $6,000 worth of savings.

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