I wouldn't listen to everything they say.It depends on your situation; you could settle this debt for less then 50%.When was the last time you made a payment on this account? Who is the collection agency your dealing with?

Don't take this as a hard cold fact, but I 'doubt' a collection agent would reject receiving payments on the debt. After all, they still get a cut off of what you send in. Most likely, they're looking for a bigger piece of the pie up front - that's all. So with that in mind, my suggestion would be to hold your ground and force them to swallow your offer. May not get accepted overnight, but if you can get them to realise that something is better then nothing, then, they might bite at the offer.

O.C.

What is your credit rating now? a: it is a R9 on the account
Did you receive a settlement agreement from the collection agecny before you decide to hand over your money? a:No, I m well aware that I need to get a settlement agreement in writing before I start making payments

Why not offer them $5500.00 to settle instead of$7000.00? a: it was 11k now want to settle for 7k

Another question, they told me that they would only accept a lump-sum payment on the 7k offer, the only way I could make payments was it it was on the amount fully owing
is this true??

What is your credit rating now? Did you receive a settlement agreement from the collection agecny before you decide to hand over your money?Why not offer them $5500.00 to settle instead of$7000.00?

Hello

I am dealing with a collections agent, and have agreed to partially pay for the amount owing (It is a credit card debt that has been reduced from $11,000 to $7,000)
The agent told be that my account on credit report will show up as "Paid.Settled" and it can not show up as "Paid in Full" because I am paying less than full amount owing,

1.)My question is, is there another or better rating I can try to negotiate with so I can do the least amount of damage to my credit rating.
2.) Is the collections agency allowed to charge intrest on payments I make to pay back the debt?

Thankyou
Rock05