Settlement offer Please advise

Each case is different. You know the best about your financial situation. Calculate all your income and expenses and find out how much you will be able to afford towards this settlement. Since they are willing to take your offers, give a try. Re-negotiate until you are able to arrange a fair deal. Make sure that you get a PIF letter from them after the account is paid.

If the original debt was $1800 I would try for less, if this company purchased this debt, they paid pennies on the dollar. You need to read up on junk debt buyers. The original company has already taken a loss on the debt when these guys come in and purchase and try to collect. Did they purchase this debt or are they representing the original lender?

Some questions:
1. What state are you in?
2. How old is the debt? When was the last time you made a payment on it?
3. Have you check your state law as far as your statute of limitations?

Please respond to these questions before you talk to them and wait for someone to respond to you. If the statute of limitation has run out, you don't have to pay it at all.

fedupinpa is right. Remember, if you send them so much as a penny, it will restart the SOL. The amount seems terribly inflated to the original debt as well.

Thanks for the advise.
The debt is not out of SOL.

What is the best I can hope for in negotiating with them about their reporting on my credit report?

What does your credit report say? Did the original creditor charge this off as bad debt?

Did this collection agency purchase this debt?

Don't fall off the chair, Just hear me out. They bought that debt for pennies on the dollar and they are willing to negotiate. I would start out as low as possible. They will get you up to where they are comfortable. Try starting with like $500, They probably won't accept it, but it is a starting point. You could probably settle this thing a heck of alot cheaper than they are requesting from the start. Start small, be patient but more importantly stand your ground. The original creditor already charged this debt off, so anything forward is profit for the collection agency.

I am not kidding about the $500 being a starting point, they will negotiate you higher, but starting low means ending lower than you originally thought. I learned this lesson well, by offering a CA the original amount it just showed that maybe I had money to pay the whole thing, you know what, they did not accept it anyway, wish I would have started with $500 on my original offer instead of $2000, would not be where I am today, still dealing with these creeps.

Make sure the end result is a Paid in Full letter and a good report on your credit reporting. If you don't get a paid in full, they may sell the balance off to someone else then you never get rid of it.

fed, you are currently dealing with a suit filed by WW&R,Right?

What's going on with that?

Well, They sent me a summons for CACH, LLC, I contacted WWR and offered them $2000, cash, had it in hand. CACH, refused that offer, they wanted $28?? from me. I don't feel I owe them that much. So they sent me a judgement by consent that had payment arrangements in it, still wanting the $28??, I refused and answered the original summons to the court. Once I requested, debt validation, they responded by saying they did not accept payment arrangements. Funny, seeing how, when they thought they could get my signature voluntarily, they offered payment arrangements. Anyway, it goes on and on. I sent another debt validation letter, stating what I wanted, them to justify the ownership, right to collect and justification on how they come up with the amount owed. They sent me a bogus notarized affadavit signed by a fellow in Texas, along with the copy of the bill.

Right now, the status. I am not satisfied that the documents sent to me are proper debt validation, So my response is going to be somewhere along the lines of:
Asking for the original contract that allows them to collect this debt? A copy of the contract between them and the original creditor. This is alot of money to fork out, how do I know they are authorized to collect it, unless I see proper contract paperwork?

I am requesting Mr. Does presence to testify at the court hearing, whenever it shall be. That he has first hand knowledge of what he put in a notarized statement and that he is willing to testify to it. I am looking into how to get him subpeonad (sp) to come to the court hearing. If he is going to swear to something, he better have first knowledge of what he swearing to. I am in consult with an attorney and missed his calls this week as to what my next step will be.

I have read too much on these guys to let them win this so easily, they have failed to produce anything that I have asked for. Anyone can raise their right hand and swear that something is true. This was actually just an insult to my intelligence. I am not going to let these walk all over me.

I understand why you regret offering them a settlement now.

Let me give you a brief summary of what happened and why my account is in the hands of Financial Recovery Services.

I purchased several rooms of furniture from a well known furniture co.

The Company has a policy that after the furniture is delivered, the customer can have it picked up if it is not to their satisfaction.

Well, I am very hard to please.

I made use of this policy several different times.

If I was not satisfied, I would go back into the furniture store, pick out something else - they would deliver and pick up the furniture I wasn't satisfied with at the same time.

Each time I would have to sign an invoice for the furniture they picked up and the furniture they delivered.

I took advantage of the year without interest plan the furniture co. offered with financing by Citifinancial.

After the year was up and the account became due, I paid the 12,000+ account off in full. Well, I thought I did.

To make this long story shorter, citi-financial claims I owe for a couple of pieces of furniture I returned.

I am at a big disadvantage here because I threw away all of the invoices of what I returned before this all came up.
It is just a one big mess.

I requested all the invoices from the furniture co. and they also have it screwed up.

Of course, I can say, come out and look, I don't have that furniture in my house.
I think you are wise enough to figure out what their defense will be.