counter offer to collection agency
Date: Wed, 05/20/2009 - 17:37
hi there
I have a question regarding making a counter offer to collection agency. They said the original balance was $17,000 and they are offering $12,000 settlement.
I'm about send them a counter offer letter. Due to my health issue, I want to resolve as quickly as possible. So I'd like to offer a lump sum of money. but I only have very limited amount. i don't want to jeorpadize this negotiation process by offering too little. ( I have some amount that I have in my mind that I can pay tomorrow..but I'm afraid to offer...it's so low)
what would be a reasonable offer????
I have a question regarding making a counter offer to collection agency. They said the original balance was $17,000 and they are offering $12,000 settlement.
I'm about send them a counter offer letter. Due to my health issue, I want to resolve as quickly as possible. So I'd like to offer a lump sum of money. but I only have very limited amount. i don't want to jeorpadize this negotiation process by offering too little. ( I have some amount that I have in my mind that I can pay tomorrow..but I'm afraid to offer...it's so low)
what would be a reasonable offer????
Start low, that's the way it works. They start high, you start l
Start low, that's the way it works. They start high, you start low. Somewhere in the middle you both agree.
I'd say offer $5000.
Most creditors and CAs agree to settle the debt for 40 to 50% of
Most creditors and CAs agree to settle the debt for 40 to 50% of the outstanding debt amount. Now if you have $17000 as debt, you can negotiate with your creditor to settle somewhere around $9000.
