In your negotiations for a discounted settlement with creditors, it sometimes helps to offer proof of financial hardship for your client. Many creditors are willing to accept better settlement terms if your client can substantiate a real NEED.
Always check with your client first before you offer any financial information to the creditor. If the information provided by your client does not reflect a problem, then there is no need to offer it to the creditor. However, if the information shows financial problems, ask the creditor or their agent if they are willing to review it to help in the settlement.
Tax returns, financial statements, bank statements or even a compilation of past due invoices from other creditors might help in your negotiations.
Be sure to use all the ammunition at your disposal in order to obtain the VERY BEST settlement terms for your client.
Scott F. Soape
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