Collection

[tricie17]

I have a collection with Hunter Warfield that I need to pay. They offered me a 50% pay option which I can not pay at this time however I am going to start making payments. Will I lose the chance to negotiate if I start on a plan and/or make regular payments.

[RobertEG]

Negotiation of terms does not become a binding contract until the consumer makes an initial payment under the terms agreed to in the negotiations.  Until that time, negotiations can continue, and you can, at any time, alter or rescind prior offers.

Once you have implementation of the agreed contract, you become bound by its terms.

The debt collector can simply choose to enforce the existing contract, and is under no obligation to alter the agreed terms.

If you are not sure of your willingness to abide to currently negotiated terms, then dont make an initial payment until you are satisfied.

While the debt collector could possibly agree to new terms, they are unlikely to modify the existing contract in a way that is less favorable to them.

[Anonymous]

How old is the original transaction? 🙏🏻

[tricie17]

Thank you @RobertEG for responding with your vast knowledge. According from your reply, I believe that from my understanding that I can negotiate on their offer of 50% by paying monthly or does it have to be the full amount. Also that I do not start until the negotiation has been settled in writing. 

[tricie17]

I have not started paying yet so there is no tranaction. H/W sent me an email with this information so I am trying to gather as much knowledge before any transaction take place.

[nwa479]

I'm not familiar with this particular agency.  

In my experience with a few different collection agencies they'll sometimes offer 50% as a full payment, or maybe allow it to be paid over a few installments.   They might also offer a lesser discount to pay it over a period of six to 12 months. 

I had a collection that I knew I'd eventually be able to settle so I paid just a minimal amount each month just to make sure I didn't get sued and they didn't sell it to another CA.   I was offered a settlement on this one recently.  

I would clarify the payment terms of their offer. If you can't afford to settle now then agree to an affordable monthly amount until you've saved enough to pay for their 50 pct or better offer.