I am being sued by a credit collections agency for a credit card that I had problems with?

In college. It is for $1,400.00. Can I make an offer to settle it? What should I offer? I certainly don%26#039;t want to take it to small claims court. I want the whole mess to go away. What would be my best approach? Please respond if you have some kind of first hand knowledge. I will be giving credit to a best answer.

I am being sued by a credit collections agency for a credit card that I had problems with?quick loan

Yes, you can settle but get an agreements for payment in writting BEFORE you write the check. Most companies will settle for a lesser amount if you are willing to pay them immediately. Fifty percent of the collection is usually reasonable. In your case 700 dollars. If you plan to make payments they will settle for more. 1400 dollars is not worth ruining your credit over.

I am being sued by a credit collections agency for a credit card that I had problems with? loan

If they have already filed the lawsuit I don%26#039;t think there is much you can do. If they haven%26#039;t, give them your best offer and they can counter offer if they want. Tell them you%26#039;ll give them 40 cents on the dollar. You could call a bankruptcy attorney to see what they say. It won%26#039;t cost you anything and you don%26#039;t have to file bankruptcy although if the collections agency plays hardball with you there isn%26#039;t much you can do because they know its harder to file for bankruptcy now. If you offer them a lump sum they will probably insist you pay all at once. You might be able to tell them you will pay them $50 or $100 a month until you pay it off. Whatever you end up doing they will try to get as much out of you as they can. Just remember negotiate the best deal you can and good luck.|||If you don%26#039;t want to dispute the validity of the account first then the next step would be to negotiate. Before you pay, make sure they provide you with a letter stating the agreement before you pay. Don%26#039;t pay by personal check %26amp; don%26#039;t make payment arrangements and don%26#039;t give them any personal asset acct info. ie don%26#039;t pay by phone giving them access to your funds. They may try to withdraw a different amt than you agree upon. So you need that letter from them and if you can manage it, insist that they also include a statement that they will delete the account from reporting to all three credit bureaus once paid. Be assertive and don%26#039;t hand them all your information on a silver platter.|||I could give you all kinds of advise, but anything I%26#039;d say can be found on this website. It%26#039;s for anyone being sued by a collection agency.|||If it is old debt, you may be protected by the Statute Of Limitations Law below.

A word or advice, don%26#039;t let these creditors threaten you, most of them are collection agencies that use empty threats to try to make you pay.

The most they can do, and usually do not, is to take you to court, get a civil judgment and try to collect.

Nine out of ten times they will not take any further action than to harass you over the phone or send you threatening mail.