perhaps you are in a position to negotiate some re re payment quantity that you could manage to pay back rather than paying down the amount that is full. When they accept, you make that payment as well as your obligations to your creditor for the specific debt are met.
There is certainly a downside that is slight this. Whenever you negotiate a diminished payment, your financial situation are labeled вЂњpaid as agreedвЂќ on your own credit file instead of paid in full. Your credit rating will require a little bit of a hit, however you wonвЂ™t see just as much damage while you would if you allow the account get into collections or get charged down. This tactic isnвЂ™t without its disadvantages, but you would be helped by it start to wipe the debt slate clean.