After the deadline, the collection said that 80% of the principal could be reduced. Is it true?/You don't say.

The collection shows that the principal can be reduced by 80%, which should be basically true.

The explanation is as follows:

1. Collection is usually willing to reduce part of the principal, because they can quickly recover the arrears after reaching an agreement with the borrower, avoiding further time-consuming and laborious debt collection process.

2. The proportion of principal reduction usually depends on the borrower's willingness to repay and the policy of the collection company. According to the negotiation between the two parties, the collection company will decide the degree of relief according to the borrower's specific situation and repayment ability.

3. In some special circumstances, such as when the borrower encounters great difficulties, it may charge or reduce 80% of the principal by collecting concessions made by the company to solve the debt problem. However, the specific reduction ratio still depends on the situation.

4. The collection company usually requires the borrower to repay the balance immediately or gradually according to the repayment plan negotiated by both parties.

Summary:

Generally speaking, it is possible to reduce the principal by 80%. The specific reduction ratio will depend on the borrower's situation, the collection company's policy and the negotiation results between the two parties.

Extended data:

Collection refers to the process of recovering overdue debts from borrowers. Collection is usually carried out by the collection company or creditors themselves, with the aim of recovering the arrears as soon as possible. In the process of collection, both parties can negotiate and reduce part of the principal according to the specific situation, so as to reach an understanding of debt settlement.

However, the specific situation in the process of collection may vary according to the situation, and the proportion of reduction or exemption may also be different. The borrower shall communicate with the collection company in time and provide detailed information in order to reach a mutually beneficial repayment agreement.

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