Will a debt collector settle for 20%?
Settling debt for $0.20 on the dollar sounds too good to be true, but is that type of agreement really realistic?
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Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics, from the benefits of gold investing to the many uses of home equity loans.
Angelica previously held editorial roles at Bankrate, HousingWire and other financial publications, where she focused on insurance, credit cards and mortgage and housing content. She has also written for publications like The Motley Fool and Forbes Advisor. Prior to working in personal finance, Angelica held editorial roles at alt-weeklies that include the Houston Press and the Dallas Observer.
Settling debt for $0.20 on the dollar sounds too good to be true, but is that type of agreement really realistic?
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