Have an ugly stain in your financial past? Around 77 million people have credit reports that show a debt in collections. According to the Consumer Financial Protection Bureau, the average balance is over $5,000. However, depending on the type of debt one carries, effective negotiating might be enough to help you climb out of the hole. Here’s what you should and should not do when negotiating your debt. Do: Understand the Difference Between Creditors and Collectors A creditor … [Read more...]