Got a court date with Collection Agency Lustig Glaser and Wilson, for next month, I'm not sure how these people work, If I would get a lesser amount on the telephone or wait till court date, I'm trying to settle for less as possible. Anyone have a percentage amount they know of they accept? I'm specifically looking to do lump sum. I owe $2400 capital one account ...
It really depends on the circumstances, the course of conduct of the collection firm to date, what stage of collection you are in, and whether you are able to pay in a lump sum or over time. For a lump sum payment in 30 days I would generally look to settle for 40%-60% of the total balance. You may want to retain counsel and make sure it is taken care of properly.
Christopher Vaughn-Martel is a Massachusetts lawyer with the firm of Charles River Law Partners LLC in Boston, Massachusetts. All answers are based on generalized Massachusetts law and the limited facts presented by the questioner. Because answers are based only on the limited information voluntarily provided in a public forum, they should never be relied as legal advice. All answers are provided to the general public for educational purposes only and no attorney-client relationship is formed by providing an answer to a question.
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