Accepting Quote by Jean Chatzky
“After explaining why you're in trouble, ask the creditor if the company would be willing to accept a smaller amount. Start negotiations at about 30% of the total amount due, with the end goal of paying 50%.”
About This Quote
When negotiating debt, propose a reduced payment and aim for a compromise that eases the burden.
In simple terms: Negotiate by offering a lower amount and target a middle ground.
Key Takeaway
Start with a lower offer, aim for half.
Themes
finance
negotiation
debt
strategy
Mood
pragmatic
cautious
Type
advice
strategic
When to use this quote
- personal loans
- credit card debt
- business invoices
- tax settlements
Key Concepts
compromise
financial planning
psychology of bargaining
Questions to Reflect On
- How can you prepare for a creditor’s refusal?
- What alternatives exist if negotiations fail?
A Different Perspective
Creditor may reject low offers or demand full payment.
![“I cannot go to elections with an open stomach. If you want to negotiate we have to conclude it before the elections. I cannot just start the negotiations [with Palestinians] saying we are ready to do this and that and not having any reply.” quote by Shimon Peres](https://sms4smile.com/quotes/img-quotes/cea/shimon-peres-1970_election_i-cannot-go-to-elections-with-an-open-st_2790727.jpg)
![“You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.” quote by Jean Chatzky](https://sms4smile.com/quotes/img-quotes/e84/jean-chatzky-15313_cards_you-also-need-to-understand-that-when-yo_1363945.jpg)
