Most of my cc debts have been turned over to collectrion agencies and now that I have the money to pay, I want to do that and get my great credit record back. Most of the balances are below $10,00, but have one that is $13,000 and one that is $24,000. What percentage do you offer in a settlement? Is it based on the total amount, say offer only 10% to the huge debt and say 30% to the lower? I don't know what to offer to pay. I can no way afford to setttle for even 50% on any if I'm to pay them all off within a matter of a few months. Thanks for your advice/help.
I talked to the most difficult one of all, an attorney named Bonewicz or something like that. He's a real jerk and tries to intimidate and harrass and doesn't want to give me a straight answer. So I'm lost on how much I should be agreeing to settle the bills. He's demanding 50% of the debt he's holding and wants it in 3 months. Well it's impossible for me to do that so what do I counter him with?
How much should I offer in settlement?
You should contact with the collection agency and try to negotiate with them. You may try to settle the debts with them according to your affordability. It depends on their discretion whether or not to accept your offer. There is no specific percentage at which the collection agency will settle the debts. If it seems difficult to negotiate with the collection agency on your own, then you may get help from a reliable debt relief company. This company will then negotiate with the collection agency on your behalf.
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