What amount should I pay to settle a debt.?

I have a debt that is in collections I know sometimes they settle for a lower number. What number should I try to get them to settle on if I have a collection worth $1900

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  • 1 week ago

    $1900. you ought to not accept but you owe. If they struggle to urge you to accept but you owe, then you ought to refuse, and demand on paying fully . Settling for a lower number are often much worse for your credit than doing nothing. If you're getting to pay anything, then you ought to pay every penny you owe.

  • 1 month ago

    Legally as long as you are paying it off they cant refuse it even if your only doing 5 dollars a month. I had a debt where I was paying a small amount every month. They got mad cause the amount I paid was so small so they took me to court. The judge said I cant be sued because I was paying them ba k the money I owed just in smaller amounts so the judge said i am paying off the debt and therefore havent breached the contract. Tell them what you can afford. Make sure it's not a huge payment amount that could cause you to struggle financially each month

  • 1 month ago

    It depends on how much u owe

  • 1 month ago

    $1900.  You should not settle for less than you owe.  If they try to get you to settle for less than you owe, then you should refuse, and insist on paying in full.  Settling for a lower number can be much worse for your credit than doing nothing.  If you are going to pay anything, then you should pay every penny you owe.

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  • 1 month ago

    Some collections accounts may have been purchased for pennies on the dollar. If they paid $200 for your $1,900 debt, they might be thrilled to get an offer to settle for $400.  Bad news: by offering to settle for ANYTHING it may reset the "clock" on the 7-year statute of limitations in which they would have to sue you.

  • 1 month ago

    They may settle for $1,200 depending on how old the debt is.  Call and ask them.

  • Anonymous
    1 month ago

    Very doubtful they'll negotiate for such a small amount.

  • Erik
    Lv 7
    1 month ago

    A tiny amount like that, just pay it off, even if it takes you a year or two.  Talk to your creditor and they will work with you (better than being stiffed).

  • Rick B
    Lv 7
    1 month ago

    Typically they paid pennies on the dollar.  It is VERY common to pay them HALF the debt.  Just make sure to get in writing that it is "PAID IN FULL".  Also, keep a copy of that letter and the money order FOREVER because it often comes back.  Do not give them access to your account, use a money order.

  • Anonymous
    1 month ago

    Settling is not always a great thing to do. It does not help your credit and you may owe taxes on the amount you saved.

    Sometimes, its best to just wait out the 7 years.

    Unless you can get a pay for delete in writing from the merchant, not the collection agency. (And almost none will agree to that)

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