Get the right
starting point.
A negotiation is only one route. Account identity, older debt and court papers may call for a different first step.
I have court papers
Prioritize the court response deadline and legal help. A settlement discussion or this worksheet does not extend the deadline or file a response. Even a debt you dispute or believe is too old needs a timely court response.
Read CFPB's lawsuit guidance ↗This debt may be old, or its age is unclear
Consider state-specific legal advice before making a payment, promising to pay, or acknowledging an old debt. Those actions can affect legal time limits in some states. This worksheet cannot determine whether a debt is time-barred.
Read CFPB's old-debt guidance ↗I don't recognize this debt
Start with the validation information and dispute process. Check the notice's deadline; a written dispute during the validation period gives specific protections. Completing this worksheet does not dispute the debt.
Read CFPB's validation guidance ↗Recognize the account?
Confirm the collector’s identity through an independently checked source. Ask who owns the debt and who has authority to agree to terms. Keep the validation notice, offer and account records together.
Once you understand the account, compare written terms and a realistic budget. You do not need a settlement company to ask a collector questions about an offer.
Review the written offer ↗If the budget doesn’t work
Do not treat a collector’s acceptance as proof that a payment is sustainable. A nonprofit counselor can review the bigger picture. If court papers or serious legal questions are involved, seek qualified legal help.