Asked in Debt and Bankruptcy
How does a collection agency determine how much money they will settle a debt for?
a collection agency will usually take up to 30% off a debt but only if it is over $500 i once owed $5,300 on a returned vehicle and they were willing to take $3,100 but you can hustle your amount owed. all they want is some of the money anyway.
There is no specific set amount. You must negotiate with the collection agency. They will settle for whatever they can get in many circumstances.