My mother is currently dealing with Weltman, Weinberg & Reis on an old Capital One account. She says she's repeatedly offered to try to come to some sort of settlement (I know!) but they refuse, demanding the whole amount or nothing. Now they've intimidated her into sending some sort of inventory of her "assets."
She rents an apartment, had 25-cents in the bank at the time she listed her possessions, no savings, no car and works a part-time retail job to supplement her social security. The problem is her only real asset -- she and her brother jointly own a few acres in another county.