negotiating settlement payment
Date: Wed, 07/27/2005 - 13:48
I live in the state of Oregon and have an outstanding debt for medical bills due to insurance expiration. This debt was turned over to a collection agency and is now several years old. I have contacted the collection agency to negotiate a lump sum settlement but they told me that since they did not buy the debt they cannot except less than the principle balance. Is this true? If so can I contact the doctors office to negotiate a settlement?
Thanks,
Jeff
Thanks,
Jeff
Hi Jeff, Welcome to debtconsolidationcare forums. Since th
Hi Jeff,
Welcome to debtconsolidationcare forums.
Since the collection agency didn't buy the debt so its true that they cannot accept anything less than the principle balance. In such case you can approach the doctor's office for a debt settlement.
The other option open to you is to contact a debt consolidation company and payoff your debts. These companies might help you to reduce your outstanding debts substantially by eliminating late payment fees, penalties, interest charges, etc.
To find out more about benefits of debt consolidation please go though the following article
http://www.debtconsolidationcare.com/benefits.html
Hope this answers your query.
Regards
Samuel
