Posted on March 18, 2008 at 4:40 pm I have three collection companies from years ago attempting to collect a debt.  I am trying to get my life back on track..and I have the means to pay them now, but obviously want to negotiate the price...and MOST IMPORTANTLY try and have it removed from my credit report.  I am trying to buy and house and car. Do you have any sample letters that have been effective? They have sent me letters in the last few months...do I include their letters in my letters to them?  And lastly, how much do I start my negotiations at???  I want to get it done asap, and for them to delete themselves from my credit...but also not pay more than I should to them, as I know they bought my account for way less. Heres the numbers on the 3 accounts... 1) $8500 (what I owed to the credit card company),  $17,500 (what the collection company has my "owed amount" as) 2) $2000 (what I owed the credit card company), $4500 (what the collection company has my "owed amount" as),  $2000 (amount they said they would accept from me in a letter...without me ever contacting them) 3) $500 (what I owed the credit card company), $900 (what the collection company has my "amount owed" as), $400 (amount they said they would accept from me in a letter...without me ever contacting them) Thanks!!!

Posted on May 29, 2008 at 4:01 am The difference is usually fees that are instituted by the collection agency and usually can be negotiated. However, there is also a limit of how much they can add on and it sounds like your collection agency is trying to limit how much wiggle room you have. If they say you owe $4500 and originally it was only $2000 they are most likely hoping you will settle for either the full amount or something in between that they can pocket as profit.