Non-Discounted Settlements

Every now and then you will encounter a creditor that is not willing to negotiate a debt and all you can work for your client is the payment term and interest rate.

I just finalized a settlement where the creditor was willing to discount the debt but they would not do business with my client in the future unless the compromised amount was paid.  Since my client wanted to continue business with this creditor, all I had to work with was the term and interest rate.

I was able to work out an acceptable payment arrangement for my client over a 2 year period at a 6% annual interest rate with no discount on the debt.

My fee ended up being for a $1,000 minimum amount which we agreed upon before negotiations began.  Had I been able to negotiate a discount, the fee would have been higher but it was still fair for both parties based on the outcome and the time and effort I put in.

Always be sure you set a minimum fee for any accepted settlements whether or not a discount is negotiated and all parties will benefit.

Scott F. Soape

Case Examples

I recently added a new page to my website providing 16 examples of actual cases I have successfully negotiated over the years.  These cases reflect a broad variety of clients, debts and settlements in an effort to show that every case I take on is different and, perhaps more importantly, that REAL results are possible.

Please visit my website at www.SFSoapeAssoc.com and click on the Cases tab so you will have an idea of what to expect with your own commercial debt resolution practice.

Scott F. Soape