should I talk to the collector

[onepmg]

What is the name of your state? ca


I was served a summons on an old debt--just inside the SOL date.
I want to resolve the situation. the originial debt was 11K they want 22K. should I negotiate over the phone with them? or get a lawyer to do it. I was on the phone with them for ten minutes trying to find a solution. they offered me payment solution--totally unacceptable. I offered them 5K--to see where they were. they asked about future earning bla bla. I was vague and refused to commit to anything and declared all options they offered unworkable. are they recording these conversations? what is the implication if they are recording? what is the normal percentage bad debt is picked up for by collectors?

 

[bearfootball]

Yes it's recorded.
I would be AMAZED if they didn't take the $5K offer. If that's what you want and can afford to pay, then stick to it. They'll gladly accept that.

 

[debtsucks]

Isn't there a law against recording someone on the telephone without notifying them that they may be recorded?

 

[onepmg]

you think they will accept 5k as payment in full? I threw it out there to see their response. they were very unhappy and countered 16K. i said it was comletely unacceptable and I would declare bk, because there was no way I could come up with that kind of money, nor was I willing to get into a long-term committment with them. of course when I offered 5k they wanted to know if I could make monthly payments and then a balloon payment in a year. I told them I would only make a deal which ended our relationship without further contact.

these guys are good and tough. what access do they have to my financial info?