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credit card settlement.......

I got the collections agency to lower the bill from $1,650 to $900. Is that pretty good or should I keep pushing for better? That was the guy's very first suggestion.

Answer Question

Asked by Anonymous at 4:26 PM on Oct. 6, 2009 in Money & Work

Answers (5)
  • If you can pay it all at one time, call him back and tell him 700, they usually won't go more than half, if you have to split it, they probably won't go too much lower.

    Answer by kimigogo at 4:30 PM on Oct. 6, 2009

  • you can usually talk them down to 50-60% of the original bill. But that seems like close enough to me if its not already in that range. I would take it

    Answer by auroura at 4:31 PM on Oct. 6, 2009

  • Yes, I am planning to mail in a money order with the full amount.

    Answer by Anonymous at 4:32 PM on Oct. 6, 2009

  • Don't let them withdraw it directly from your account. M.O. or cashier's check only. Remember that you will owe taxes on the difference.

    Answer by halfpint_ny at 7:41 PM on Oct. 6, 2009

  • Get the agreement in writing first! If you send them the payment without a written agreement, they can still try to come after you for the rest.

    Answer by slw123 at 7:51 PM on Oct. 6, 2009

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