- 1). Make a list of outgoings from your account each month. Subtract it from the money that you have coming in to determine any disposable income available. Once you have this determined come up with an amount you can pay the creditor each month.
- 2). Send the payment offer and your monthly budget to the creditors. The budget will act as proof of what you can afford to pay. Await the answer. If they agree to the payment plan it is essential you stick to it until the debt is repaid.
- 3). Send the same offer to the collection agency's attorney if the company turns down your offer. The attorney might accept the offer to avoid going to court. If the attorneys refuse the agreement and a court date is set, take the same documentation to the hearing. The chances are good the judge will accept it if it is reasonable. This will avoid a judgment order to pay the money up front or a wage garnishment.
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