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How To Retort Collector's Payment Plan?


Flippy
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Let's say I owe $10,000 on a CC that has been assigned to a CA. Let's also assume that I can somehow come up with or borrow from family $5,000. I know the following scenario will happen. I offer to settle the debt for $5,000 because that's all I can come up with. The collector will undoubtedly say, "we can set you up on a payment plan for the other $5,000". Is there a good retort to this?

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Let's say I owe $10,000 on a CC that has been assigned to a CA. Let's also assume that I can somehow come up with or borrow from family $5,000. I know the following scenario will happen. I offer to settle the debt for $5,000 because that's all I can come up with. The collector will undoubtedly say, "we can set you up on a payment plan for the other $5,000". Is there a good retort to this?

I would start the negotiations with 30%. Stipulate they not sell the balance and report it as "Settled in Full". Debt Guy has a post here somewhere for negotiating a settlement with a CA. Good info.

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I would start the negotiations with 30%. Stipulate they not sell the balance and report it as "Settled in Full". Debt Guy has a post here somewhere for negotiating a settlement with a CA. Good info.

I usually would start at 30%, but I get the impression from Amex that 30% would be unlikely given their, "we don't go any lower than 75%" statement on the phone before there was a CA involved.

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In my opinion you're making a HUGE mistake thinking about paying Any CA ANY money !!! Work with Amex or NOBODY !!!

I am planning on negotiating with the CA, get it in writing, and send a certified check made out to American Express.

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