I want to settle a 1500.00 account and the collection people told me that right now the credit card company won't settle but I want to settle for 50-60% and they are demanding in full. What can I do?
Answer
If they are the designated agent to collect, they are speaking for the credit card company. The credit card company is NOT obligated to settle the debt. I suggest you get an attorney to write a letter on your behalf making the settlement offer and requesting a written response, however, because there is magic language that should be in it so you are not admitting liability, and there should be other statements to protect you.
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