Mark Change in Control Agreement Made Easy

Set out payment settlement

today's question comes from Stephanie in Nevada where do collections fall and baby step two do we pay them first or in the order their balances like everything else if you've got outstanding defaulted bad debt set that aside you're not paying on it anyway and figure and finish your debt snowball and baby step two that is your regular active debts things your paying payments on list your debts smallest to largest pay minimum payments on everything but the little one and work your way right down that list now once all of your active debts are gone then take all of your defaulted in collections that you're not paying payments on debt inactive debt and list its smallest to largest only we're not going to pay them payments we're going to just pay them off smallest to largest now if it is a small debt under $300 you call them up you get in writing by email or something like that what the balance is not verbal over the phone it's an old debt you don't want to send them $275 from a six-month ago bill and then then come back and say we owe you owe is 1275 dollars because we added late charges and they will do that kind of crap so every time you have an old debt before you pay it get in writing what it is now if it's a small one just pay it so you knock out the little mosquito debts the $52 the whatever that right all the little mosquitoes flying around your head knock those out then when you get to the larger ones then you call them up when you've got a little bit of money and you make them an offer and say you owe them $3,000 they say you owe them $3,000 you look it up and go my goodness I was $1,000 on a credit card they sure have added a lot of late charges and a lot of gotcha fees a lot of collections fees to that so I'm really gonna offer him $1,000 on that three thousand dollars in quotes balance but it was originally a thousand bucks I'm probably going to offer them about what you originally owed or maybe even less but pennies on the dollar 25 30 cents on the dollar in cash as an offer do not give them any money unless you get the agreement to the amount that you want to pay in writing and you'll have to work your way through that argue your way through that it's not easy never send collections people money if you don't have the amount in writing first you can tell they're lying if their mouth is moving there are one or two good people in the business and the rest of them are scum they lie all the time we work with them all the time credit card collectors a hundred percent of you that are credit card collectors...