[stuffgoeshere]

A law firm called me one year after my last payment. I owe $3500 on my credit card. I agreed to make payments of 1800 by the end of the month and 1700 at the end of next month. Can I go to the credit card agency and try to settle for 65% or is it way beyond that? I would like to delay the time i must pay everything since it will be a big hit if I do. I do not want to hire an attorney. They did a preliminary deal with me, but they said they are willing to file suit immediately from Nevada (I am in Wisconsin)

[aaron]

Did you sign a settlement agreement, or simply agree orally?

In many cases, at the point where a collection matter has been referred out to a law firm or collection firm, the original lender won't negotiate the debt - they will instead refer you back to their collection agent. Also, given that you have already agreed to repay the whole debt, it is less likely that they will now agree to a discount.

Still, it costs you nothing to try.