How much should I make my initial offer to a collections

[starofiniquity]

agency to settle a debt? So I've got a debt of 2999.17, and they sent me a letter offering 35% off if I paid in full (1949.46). I'm sure I can pay even less than the 2 grand, but I don't want to aim too low at first, because I know it'll be some sort of haggling situation.Also, I don't know where to set my bottom line of what I simply will not pay more than. I really want to clear this up, and I really want to pay as little as possible, but I haven't dealt with these people much in my life.

[notnaked]

It's already way less than your original bill, quit being a dead beat and pay what you owe!

[J *]

Tell them you will pay 400 right now if they lower it to 1500.

[Leena]

tell them you'll do $1700, that's all you have and you can't do anymore.

[trojan]

This is not like buying a car, you can't haggle for the best deal. Don't be a fool, settle before the offer is no more, you are already getting a deal, don't blow it.

[d d]

If you owe someone money, pay them.If you're going to be a jerk about it, offer then 60% of it.Don't ever ask me for money.

[jillianav]

i would offer half of what you owe sometimes they'll take the loss just to get some of the money you owe

[Queen of Mean....]

take the deal

[Ian]

If you have no assets, low ball them at $500. The debt may have been sold to them for pennies on the dollar. Any money they take in is icing on their cake. It also depends on how old the debt is.If they are simply collecting the debt for your original creditor, they may have a lowest amount they can accept, and will stick to the 35% offer. Some collection companies might sue, especially if they know you have assets like a house. Get everything in writing.

[dharmapunxter]

First you have to remember that collection agencies serve one purpose, to settle debt. Preferably to get the most money from the claim. Most of the time the company you originally owed sold the debt to this agency and now they hope to make a profit as well. You should be able to offer them half and be able to settle. Just like with any negotiation (such as buying a car for less than sticker) you must be FIRM. You want to make sure you have X amount and tell them " X is all I have, I'll give you that in order to settle, or no deal" They don't like this, if you really sound like you won't pay otherwise they usually make a more reasonable settlement offer than 35%. Remember this initail contact is a negotiation process and they are high balling you. I must also add, that this does affect your credit, so you will want to get something worked out asap.