“DAD, HOW GOOD WAS THE ENDING OF THE #STEELERS - #CARDINALS SUPER BOWL XLIII…?”
ONE OF THE THREE GREATEST GAMES IN FOOTBALL HISTORY:
https://t.co/NYaqtCsDip
Your $100,000 in debt is worth $3,000
Seriously
The collector chasing you paid $1,000 to $7,000 for your entire file depending on how old it is, and will take anything above that as profit
But they'll ask for $100,000 first because they're hoping you don't know the game
Here's how to settle six figures in debt for less than a used Honda:
The collections industry is the biggest scam in America and nobody talks about it
When you stop paying a credit card, the bank writes it off after 180 days. They get a tax deduction for the "loss." Then they sell your $30,000 debt to a collection agency for pennies
Read that again. $30,000 in debt sold for a few hundred bucks. Pennies on the dollar
The collector's entire business model is calling you, scaring you, and hoping you pay full price for something they bought at a 98% discount
If you owe $100,000 across multiple accounts, collectors paid roughly $2,000 total for all of it. Every dollar you give them above $2,000 is pure profit
The settlement system:
Rule 1: NEVER pay a collector without negotiating first
They'll ask for $100K. Counter with 5 cents on the dollar. "I'll pay $1,500 today if you delete from all bureaus and send written confirmation"
They'll act offended. They'll say no. They'll threaten lawsuits they'll never file. Then they'll counter at 15 cents
You counter at 8 cents. They settle at 10-12 cents. Your $100K debt just became $10,000-$12,000
Rule 2: Always demand DELETION not "paid in full"
"Paid in full" still shows on your credit as a negative mark. It says "this person had debt in collections." Score barely moves
"Deleted" means the account vanishes entirely. Like it never existed. Score jumps 40-80 points per account
If they won't agree to delete, don't pay. A collection you're not paying is no worse for your score than one you've paid. Only deletion helps
Note: not every collector agrees to delete. Some will only mark it "paid." In that case, paying AND disputing through the bureaus is your backup plan
Rule 3: Get EVERYTHING in writing before you pay
Verbal agreements are worthless. Get a signed letter on company letterhead that says: "Upon receipt of $[X], we agree to request deletion from Equifax, Experian, and TransUnion within 30 days"
No letter? No payment. Period
Rule 4: Pay with money order, never bank account
If you give them your bank account info, they can draft money without your permission. Happens constantly. Pay with money order or cashier's check
Rule 5: Play the clock
The older the debt, the cheaper the settlement. Debt that's 4-5 years old settles for 3-5 cents on the dollar because the collector knows the statute of limitations is running out
A $50,000 debt from 2021? They'll take $1,500 today and celebrate
Real settlements i've seen:
$87,000 in credit card debt: settled for $6,900 (8 cents)
$45,000 in medical collections: settled for $1,800 (4 cents)
$120,000 across 9 accounts: settled for $11,400 (9.5 cents)
$33,000 in personal loans: settled for $2,640 (8 cents)
These are strong results. Average across the industry is more like 10 to 40 cents on the dollar depending on age of debt and type. Older debt = cheaper settlement. Medical = cheapest. Credit cards = more expensive. But even at 25 cents, you're turning $100K into $25K. Still life changing
Your debt is not real money. It's a number on a screen that someone bought for pennies. Treat it that way and negotiate accordingly
Once that debt is settled and deleted? Your score recovers to 700+ in 60-90 days. And at 700+ you qualify for $100K to $250K in 0% business funding at 0% interest. Your old debt was blocking you from new capital
(I repair your credit profile in 30-90 days, links in my bio)
#BREAKING: All lanes on I-79 between Cranberry & Portersville in Butler County remain shutdown after a massive pile up near the Evans City exit. One person has died & multiple people taken to the hospital. @KDKA#KDKADroneTeam
https://t.co/enTC5KTwwM
American bought these carrots
People are guessing this is anything from morgellen to a horse hair worm
Make sure to check your vegetables in America. These were purchased in New Jersey
Big tilt this coming weekend between the #steelers and #ravens. The ravens are telling you who is going to win the game. They have to do this to avoid karmic retribution.
🚨GAMEDAY🚨
Steelers vs. Browns.
Win today and we clinch the division.
Win today and we punch our ticket to the playoffs.
Time to remind the league who runs the AFC North.
HERE... WE..... GO!!!!!!🔥🔥🔥🔥
#NFL#Steelers
NEWS: #NFL icon Aaron Rodgers says the rise of gambling and fantasy football has changed the way fans behave at games.
“Now at the same time, as you’re seeing parts of society erode, maybe the conduct has changed over the years”
Really fascinating answer