Settlement offers

Please do yourself a big favor and search through this forum. Many companies will settle well below 50% and some all the down to 15%. So every company is different. Example, lets say you have a debt with FIA. Type FIA in the search bar and you will find threads about them.

Or you can list your creditors and people here can tell you what to expect. The end of the month is the best and it depends how late you are as well.

Keep haggling. Your credit has already taken a hit. An extra 20-30% off you'll save yourself thousands. Being that tomorrow is the end of the month, be aggressive. These collectors operate on a month's end schedule - it's all about volume and commission.

If you are at the point where you are getting settlement offers, you must already be way behind on payments, so your credit score is already down. I agree that 70% is too high - posters in this forum regularly get 25% to 50% - and some lower. If you were able to pay the full amount, you probably wouldn't be behind in the first place. And what they put on your credit report can be negotiated with the settlement - sometimes just a simple "paid as agreed" can start you back on the road to credit report recovery.