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What do debt collectors normally settle for before serving someone knowing they will choose bankruptcy if the case goes forward?

I have received a letter from a debt collector on behalf of a insurance company. I've been sending them a letter I received from the FDCPA site but I realized its not technically a debt as its a tort liability technically but I do not have enough answers to come to any conclusion on the price tag put on it so I cannot affirm it is mine as there are no contracts or agreements between me and any of the other parties. I am trying to get a letter from solo suit to send them a letter to try to negotiate before it goes to court but also letting them know I will declare bankruptcy if its proven by the court that it is my debt. I am offering them 30% of the debt at the moment as it is quite large (over $50,000). Does anyone have any templates or any advice on how much I should offer while letting them know if it goes to court an they win I will declare bankruptcy?


Best Answer

We have emailed you with information regarding our debt settlement letter. It is suggested to use this once you submit the Initial Answer document.


also how can I get a settlement letter from solo suit pre lawsuit?

I was thinking of offering 30%* but I see the standard for these third tier debt collectors is 10-20% which would save a lot of money for me as I do not have much income at the moment but I have a little savings.. I haven't made an offer yet, I have only asked for debt verification but they only sent me some receipts which is not enough info and they are demanding I send them the money now as well or as their paper states "will file a lawsuit contingent upon applicable state law"

I received a motion to claim exempt property, 


Can you refer where I can get help with paperwork?  

Answer

We have emailed you with information regarding our debt settlement letter. It is suggested to use this once you submit the Initial Answer document.


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