Go into negotiations with a game plan.

Remember that you are in control. The game is played on your field. They want the money and you are the one that can give it to them. By the time you get around to settling the debt your balance may be inflated with legal fees, interest, and penalty fees. Try to use the amount of debt that you borrowed as a worst-case scenario for settlement. In other words, try not to settle for more than the principal amount that you borrowed. Attempt to settle for as small a percentage of the money that you borrowed as possible.