if you can afford it,see a bankruptcy attorney. they are very good at negotiating with other lawfirms or debt collectors. you dont necessarily have to file bnkruptcy but they will negotiate for you as well. if all else fails,contact consumer credit counseling,a free service,through your local county

It depends upon the debt, but you can negotiate. Under the FDCPA, you are entitled to a written breakdown of the charges. It appears they have calculated a great deal of finance charges or interest upon your debt. Are you able to pay principal? If so, at least make a 50% offer of the principal if you can pay it in a lump sum. If not, try to work out the best payment plan that you can but make sure they apply it to principal. Also, depending on what the debt was….they may not sue. If you can show them what your net worth or ability to pay is, without actually disclosing what your assets are, and you don’t have the ability to repay, then you can work a better deal or get them off your case. I have managed collection firms before and no one wants to try to collect against someone who can’t pay or doesn’t have the ability to pay…..it’s all about the money, sorry to say.