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Posted in Paying Your Bills
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pana30

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how can i go about settement for the open collection i have in my credit
the total amount is the double of what my balance was , I agree to pay $25.00 however they didn't want to lower the amount

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Your settlement is with the firm you currently owe.  As for the amount being higher, remember that depending on your credit agreement (contract) it could have included late fees and additional interest during the time it was in default.    If you agreed to pay $25 (total?) and they did not agree, you did not have a settlement.  hGo back to the negotation table and work it out with them.  If they don't budge, there is little you can do.   Is your ultimate goal to settle the debt or have it off your credit report.   You never indicated the total amount.   You could request (in writing) that they withdraw the debt entirely if you pay off the total debt.

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