October 21st, 2005 by Questions
I have read that a proposal may be an option for me. A proposal that is far less than the original balance may be accepted. I understand that I will work with a trustee to create such a proposal. My question is ..can I contact my creditor and explain my situation and expect a similar deal to a proposal. I have no assets and a small disability . I cannot pay my debt off in my life time .If I contacted my creditor and they could only give me a break on interest of a few percentage points for example…that would not do anything for me.Have you heard of any agreements worked out between just the creditor and debtor?