I owe 16K, I have contacted collection agency and have offered to settel for 8K; they didn't say yes or no, they stated they will talk it over with creditor... wtvr. I know they probably bought this at 15 or 20 cents on the dollar, so I'm pissed to why they just won't take my offer, I don't want them to garnish my wages... so pissed.. do I have high expectations to what amount they will settle with or am I wrong??

i owe 16K, i have contacted collection agency and have offered to settel for 8K; they didnt say yes or no, they stated they will talk it over with creditor... wtvr. i know they probably bought this at 15 or 20 cents on the dollar, so im pissed to why they just wont take my offer, i dont want them to garnish my wages... soo pissed.. do i have high expectations to what amount they will settle with or am i wrong???



They are probably "pissed" because you owe them $16,000 and haven't paid them. That's where they are coming from.

I see a lot of settlements for 2/3rds. Cash. Now.

Are you sure this is yours? You've posted before that you have a clean credit report and the only unpaid bill you are aware of is with the phone company. The other debts are your father's.

Here is the rundown, this debt is from a credit union, both my father and I had before.. he got a loan for car and so did I, his was 12K loan mine was 2K so I know that those 2K are mine and I am liable for it, since I am jr and the only thing differenitated from my dad's and mine is our second last name which I nor him ever used here in the u.s. so when I pull up my creidt report things of his come up and same thing happens to him when he pulls up his credit report.. wtvr though, he is aware of his wrong doing and now they put levy on my accounts and have sent notices to employer of garnishment, I never was served or anything like that, come to realize the address they 'claim' they delivered my letter of being served is WRONG.. so I don't know of any action being taken towards me until my money is gone... therefore I'm calling them to settle the debt since I know both cars were auctioned off one for 5K and other for 800 bucks hahha so now obviously in order for this whole thing to be gone my dad is putting the money to correct this and then I don't know how that whole thing about having credit that belongs to him come up on my report will be fixed... so I just don't know what to do..

Hello J

JudyKTee is right.If you owe it they want it. Simple as that. I still think there is something you are not telling us. Your posts are a little confusing. If you want us to advise you you will have to tell us everything

If the debt was purchased from the creditor then the frontline personnel at the collection agency are going to be under pressure to extract the highest return possible from you in order to please their superiors.

If the debt is on a contigency fee basis from the creditor then the frontline personnel at the collection agency are going to be under pressure to extract the highest return possible from you in order to please the client.

Under either scenario the frontline personnel of the collection agency likely receive a commission or bonus relative the sums they collect and as such they have a vested interest in extracting the highest return possible from you in order to please themselves.

These are the pressures you are up against so don't automatically expect them to do you any favours.

Notwithstanding the aforesaid we do argee with JudyKayTee that may creditors and collection agencies will discount a debt if a lump sum payment is offered.

N.B. any lump sum settlement ought to be put in writing in advance of any payment being made.