When Creditor Refuses to work with Settlement Company

Problem: Samantha had a business account with XYZ bank and had a huge debt since her business had closed down. XYZ bank was very aggressive in collection. Samantha has now taken help from a debt consolidation company but XYZ doesn't want to deal with her debt settlement company. Instead they have offered her a settlement that they said if she didn't accept they would sue her.
Solution: Samantha you may call the bank and seek to speak to a supervisor. If your bank is unwilling to work with a settlement company they may work with you to clear the debt in your account. You may explain your situation and seek negotiation. If the amount XYZ bank has asked is difficult for you to pay, you must convey that clearly to the bank.
Remember it is very important that you clear debit that has a negative impact on your report. If the bank sues you it will definitely go into your credit report. So be as patient you can when dealing with the bank. Try and convince them to settle for an amount you can pay up. Maybe if they would be willing to accept payments in installments for a longer term and if you can afford to do that, try to put forward such a solution. Request the bank to reduce the rate of interest.
Put a stress on maintaining a good credit and your honest efforts to pay back the loan. You could also seek help from a friend or a family member. But in this case remember that you keep their faith. If they do agree to lend you the money, you must make sincere efforts to pay back the borrowed amount. It is likely that you will be denied help in such a situation, but you may still try to ask them for help to clear debts that you owe.
If the bank agrees to your terms remember to get their agreement in writing. By this you can avoid any kind of future hassles. This way, either party (both you and the bank) cannot deny the agreement made. After you have made the payment, make sure the creditor removes any bad record from your account.