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MZK128

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Fixing credit - Knowing how much to pay collectors?
So I owe 12,000 in a student loan, I am making payments and it is just sitting there on my credit. I also have almost 10,000 in collections, all medical bills. I can pay for about 2k of that amount now. I am considering negotiating on one big 8,000. My question is should I just pay the other 2k 100% or should I always try to negotiate a lower price? Or will I have a better chance of them dropping it from my report if I pay in full?

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The first thing that you want to try to negotiate is a "pay for delete" agreement. You should do some research on "pay for delete" (pfd) before proceeding any further. Basically it is getting the creditor or debt collector to agree to remove the account from your reports in exchange for your payment, you want to get this agreement prior to paying. The next thing you want to learn about is "settlement offers" so you can hopefully negotiate less than face value. There is info across the net on what percentage of the debt that you should offer under different conditions (age of debt, in or out of statute of limitations, etc). To answer your primary question about "should I just pay them"? Absolutely NOT, thoroughly research how to handle these debts in the best way before taking any action.

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