Lesson 3 - Getting started on 'My To Do List'

After setting up your account with UGotiate, you will be directed to your To Do List.  Your To Do List directs you to complete certain tasks at specific times relating to your resolution process.  Completing these tasks on time is critical in keeping you on track to resolve your debts.

You will see various tasks in your To Do List during your debt resolution process.  The most common tasks are explained below. 

Create & Send Letters:

When you begin with UGotiate, you will see in your To Do List tasks to create and send Hardship Letters and/or Validation of Debt Requests, depending on your mix of creditors. These letter accomplish certain things when sent at the correct time.  It is crucial that you work on these letters as soon as possible.  For more information about these letter, read these articles:  ‘What is the purpose of the Hardship Letter’  and ‘What is the purpose of the Validation of Debt Letter’ 

Update Creditor Balances:

To get the most out of UGotiate, you must keep your creditor balances updated.  Part of what UGotiate does to assist you in resolving your debt is to keep track of your creditors and send you alerts when it may be time to make an offer to resolve one of your accounts.  In order to provide accurate suggestions, UGotiate must know your current creditor balances at all times.  To learn more about this, read ‘Why do I need to update my creditor’s balances?’ 

It may be time to make an offer to a creditor:

As you save up money for negotiations, UGotiate will alert you through your To Do List when it may be time to make an offer to a creditor.  It is always your decision when to make an offer and for how much.  UGotiate will provide you guidance based on recent settlement statistics and industry standards when you are ready to begin negotations. To learn more about the negotiation process, you can read: ‘What is the negotiation process?’

Update your Contribution Account Balance:

Like keeping your creditor balances updated in UGotiate, it is equally important to update the amount of money in your Contribution Account on a regular basis.  In order to provide you accurate guidance, UGotiate must know how much money you have saved up to use towards negotiations.  To learn more about this topic, read ‘Why is it important to keep my Contribution Account Balance Updated?’