Valued Contributor
Posts: 2,828
Registered: ‎08-13-2009
Re: Fair Collections & Outsourcing

I have never dealt with the company.


What is more important to you - settling for a lesser amount or having it deleted from your credit bureau?


1.  Settling?  Negotiate.  Offer 30%, tell them how you will get the money, and when you can pay it.  (For example, your mom will loan you the money if you can provide a letter from the collection agency saying it will be considered paid and no further action will be taken.)


2.  Deleted?  Ask for a letter saying that they will delete when paid, then set up a payment plan.  You can probably negotiate no interest.   Make payments every two weeks, or when you get paid.  They will be more receptive to receiving money several times a month versus once a month.


Good luck!