No. of Recommendations: 3
I have 4 credit cards that I've been paying off via a credit counseling service for about a year. Recently, it looks like I may come into some money and I want to pay off these debts.

My question is: can you negotiate with creditors to accept less that the whole amount? I read somewhere you can make them take $.35 on the dollar. Is this true? Any down side? Any advice would be greatly appreciated.

Trish, I hate to be the one to rain on your parade but I personally believe that if you the money to pay any of the debts in full, you should. You borrowed to money willingly and they lent it to you in good faith. Plus, to be quite honest, if you've been making regular payments on the debts they're not going to negotiate with you because they have no reason to.

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