Court Procedure
Do Collection Agencies settle debts after they summon you to court but before the court date and if so what procentage should you expect to pay?
Wiki User
2006-08-28 18:52:33
Yes, they could settle on amount before court--I usually tell
people to start at half of what is owed if the debt is under 2 yrs
old. That of course doesn't mean that the collection agency will
accept that. Really and truly, it depends on if they bought the
account and how much they paid for it. If it is older--start a
little lower than half. Whatever you offer--make sure it is
something that you can do immediately (within 30 days). State your
case- tell them you are trying to clean up your credit. If the
amount they want is more than you can afford--try to settle for
more time--like 2-3 months with the balance divided by the months.
($900.00 is settled on--2 months to do it $450.00 a month--3 months
$300.00 a month.) !!!DO NOT WRITE ANY POST DATED CHECKS--there have
been too many mistakes made and you don't want to find that you are
now overdrawn with more fees added and the money needed for
utilities-rent is gone!!
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