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QI have a medical debt that has been sold to a collections agency. Can I offer them half as a payoff?

Someone told me the agencies normally buy these accounts for a fraction of the amount due, then collect what they can, sometimes accepting half as a payoff amount. If I had had the money, I would have paid it off originally, but right now I'm not even making it paycheck to paycheck and the collections agency will not set up monthly automatic withdrawals or anything other than the full amount. Any suggestions? I'm not debating I owe the money, just can not pay it at this time.

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#1cynamonAnswered at 2014-04-29 01:07:07
Make an offer, IF YOU CAN PAY IT OFF.
They won't accept half or less than total on a payment plan.

Collection agencies generally keep 50-60% of collections.
The creditor has written it off as a bad debt and would be glad to get any amount.

"the collections agency will not set up monthly automatic withdrawals or anything other than the full amount"

If you can do this, try to borrow the amount and then offer half.

Tell them it is all you can do. Their obvious choice is zilch.

If you feel morally obligated and want to pay it, send any amount you can, on a " regular basis ".
Tell them if they bug you they can swing. If they charge exorbitant interest, Give 'em your finger.
They can't/won't refuse what you send.
If you send something regularly, do not let them bug you.
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I have a medical debt that has been sold to a collections agency. Can I offer them half as a payoff?

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