If you have too much debt and cannot make payments on all your accounts, it’s better to settle your debt and reduce your burden. When you go for do-it-yourself debt settlement, that is, settle debts on your own, you can negotiate with creditors or collection agency in order to reduce your debt by 40-60% of what you’re expected to pay.
Having a debt Collection Agency, phoning you up every hour of the day is bad enough, but being sued by them is something altogether more serious. In most cases, a collection agency will be chasing a debt on behalf of the company that the money is owed to. The debt is still owed to the original company and the agency is just working on a commission basis.
Here is the very first thing you MUST do. fire the Collection Agency Services, Send them a Certified return receipt letter using one of the legal forms “Cease and Desist”. Although there’s a catch, you must put this into action within (30) days. This of course, is after they send you a written letter making you aware that you owe them money and in detail exactly to whom you owe the money to. For instance, this is the case in the State of Colorado,
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