Get all agreements in writing.

Do not ever trust a creditor’s word. Always get any form of settlement agreement in writing from the creditor. When you get the agreement in writing you should be sure to include a date by which payment must be received from you for the settlement amount to be valid. Include all specifications concerning how the settled upon account will be reported to the credit bureaus. Send the settlement funds and a copy of the agreement back to the creditor via certified mail return receipt so you have confirmation that your payment was received on time.