Is this a good offer or is there more to negotiate?

Date: Thu, 12/07/2006 - 07:49

Submitted by johnziar1
on Thu, 12/07/2006 - 07:49

Posts: 4 Credits: [Donate]

Total Replies: 8

I have just over $14K in delinquent credit card debt. I spoke with a collection agency yesterday called ARS if think on the west coast. They made me an offer for a lump sum settlement of $7K if I pay this month. I'm considering the offer as it would be good to get this debt off my back, but how can I be sure I'm getting their best offer and if I was to counter offer, what is a realistic figure I should offer them. I need to call them back today so any advice would be greatly appreciated. Also what should I ask them to do with regards to my credit report on this item as I would like it to look as clean as possible. Can my late payments/non payments be adjusted?

Any legitiment company would understand that would need more tha

Any legitiment company would understand that would need more than just a day to think about the offer. ARS has a satisfactory record, and also has agreed to use arbitration for any disputes that arise with customers.

Do you have that kind of money at your disposal this time of year? That is a good offer, but there is a better one. You decided. Remeber that most collection companies buy these debts for .25 cents on the dollar. That's about the norm.

Another thing to consider is how old this debt is. Has it been past its SOL period?

Regards
Mike

lrhall41

Submitted by Teleport on Thu, 12/07/2006 - 07:56

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I'm nowhere near the SOL for this debt so I would like to get it

I'm nowhere near the SOL for this debt so I would like to get it cleared up as quickly and inexpensively as possible. I was going through a divorce for over two years and I got stuck with this account in the settlement while my ex got alot of the property that was purchased on this account. I'm trying to make the numbers work to get this resolved, but if I can save a little more cash I definitely want to pursue the option

lrhall41

Submitted by johnziar1 on Thu, 12/07/2006 - 08:31

( Posts: 4 | Credits: )

Just because it is who I am, I would at least attempt a counter-

Just because it is who I am, I would at least attempt a counter-offer.

lrhall41

Submitted by Lorri on Thu, 12/07/2006 - 09:54

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Ameriquest Recovery Service is listed on Bud Hibbs website. Che

Ameriquest Recovery Service is listed on Bud Hibbs website. Check out what he says about them before giving them that amount of money. Make sure they can provide documentation of all of the debts and agree to the settlement in WRITTING!

lrhall41

Submitted by on Thu, 12/07/2006 - 10:32

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Thanks for the heads-up on Ameriquest, but I think ARS is Associ

Thanks for the heads-up on Ameriquest, but I think ARS is Associated Recovery Systems. I didn't see anything on the website you referred me to for this firm

lrhall41

Submitted by johnziar1 on Thu, 12/07/2006 - 11:10

( Posts: 4 | Credits: )