What is the legal minimum amount that I can give to a debt collector that will stop any further actions?
Answer:
There is no legal amount. If the collector is not satisfied with how much you are paying they can take you to court. At that time the judge will decide whether your payments were fair or not. It's an old wive's tale that you can just pay $1/month until you die and they can't do anything about it.
Just pay it off and be done. But, before you pay, see if you can negotiate it down. You'd probably have to pay a lump sum though.
Good luck!
I'm not aware of any legal amount.especially if it's already gone to a debt collector. You will probably have to work out an agreement directly with them. Debt collectors typically work on a % of what they collect. Sometimes, something to them is better than nothing. It may not relieve you of the total debt unless they agree to a lump sum payoff, but but it may hold off further legal actions as long as they're getting something.
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: