Posted on: 27th Jun, 2006 01:58 pm
Is there any standard that the collection agencies generally accept? I mean to say can I negotiate with them?
Hi,
Yes it's possible to negotiate a settlement for a debt with the collection agencies. While you start negotiating offer them one third of the total that you owe. This will help you settle with a lower payment.
Yes it's possible to negotiate a settlement for a debt with the collection agencies. While you start negotiating offer them one third of the total that you owe. This will help you settle with a lower payment.
Hi,
In fact most collection agencies settle for lower payments and offer discounts more likely if your company assigns them multiple accounts or in case you owe a very high amount. Also they offer discounts if your account is new.
There are commissions for debt collectors based on the work done in each month. You can get into a good deal if you negotiate with them near the end of the month.
You must also know the debt negotiation laws for a better handling. For this you may consult an attorney and take his guidance.
God bless you.
For MortgageFit,
Samantha
In fact most collection agencies settle for lower payments and offer discounts more likely if your company assigns them multiple accounts or in case you owe a very high amount. Also they offer discounts if your account is new.
There are commissions for debt collectors based on the work done in each month. You can get into a good deal if you negotiate with them near the end of the month.
You must also know the debt negotiation laws for a better handling. For this you may consult an attorney and take his guidance.
God bless you.
For MortgageFit,
Samantha
The collection agency had offered a discount, but I did not have the money until a week after the deadline. The CA wanted to add a $15.00 fee and wanted to settle over the phone with a debit card or credit card or a check. I offered to send them a money order for the original amount and they refused. Can they do this?
Hi Chokfee!
Welcome to forums!
It is completely the collection agency's discretion what type of offers they would give you. As you did not send the amount they requested for over the phone, they had canceled the offer.
Sussane
Welcome to forums!
It is completely the collection agency's discretion what type of offers they would give you. As you did not send the amount they requested for over the phone, they had canceled the offer.
Sussane
Absolutely, they will make changes as they see fit. It would have been far better to absorb the $15 fee - why fuss about that and end up having to owe more? Better to pay immediately if you can than wait.
