You can never be certain the bankers know more than you but you can be sure they have a lot more people working on the problem. The article below discusses working with banks from the perspective of a negotiator. You often are faced with the identical situation, even if the negotiator is your customer.

Should you settle a customer’s debt or proceed full speed ahead to recover it all? The article discusses four variables that influence the decision. You might want to consider these same variables when you make your decisions.

Banks are more likely to settle if the customer’s financial situation is severe and the more severe, the lower the offer they will accept. As time passes since any payment was made settlements also become more likely. The banks strongly consider the ability to attach property or wages with a judgment. In addition, the article lists a a variety of financial, emotional and statistical factors that can effect the negotiation. How many of these factors apply to your decision making process? All of them?

Settlement is never desired. Sometimes, however, it’s the only viable choice and one that makes sense in the long run.
 
http://mcgrathspielberger.com/factors-affecting-the-success-of-consumer-debt-negotiations

Understanding debt collection and background screening best practices can save your business big money. Building up front applicant screening into your business processes costs you very little, but saves you so much in the end. If you haven’t already, partner with a full service debt collection and applicant screening company to guide your business to a place of security and prosperity.

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Executive Credit Management is a full-service Debt Collection and Applicant Screening agency with over 20 years experience located in Central New Jersey. We provide excellent service in the following areas: Employment Screening, Business Screening, and Tenant Screening. Executive Credit Management belongs to a number of Skip Tracing databases and offers services to help locate and confirm the current address of missing debtors. Other services provided are: litigation evaluation on all lawsuit decisions, improvement of the quality of the applicant data, Lawsuit Monitoring, Handling of Debtor Disputes. Executive Credit Management features the best Call Monitoring System in the Debt Collection industry.