How do I go about asking the collection agencies to pay off my debt?

I only want to pay pennies to dollars. Think about it, I am willing to pay but not all those fees added or could there be a simple way of asking to pay off a debt cheaper than what they want?? For example my phone bill went to the collection agency 3 years ago They want $500 (I initially only owe $290) I am willing to pay $300.Any clever way of asking to reduce my debt??

How do I go about asking the collection agencies to pay off my debt?
Actually, a 3 year old phone bill could probably be settled for a lot less than $300.





Send the collection agency a letter. Be very careful not to acknowledge the debt (you could reset the Statute of Limitations (SOL), the timeframe to bring lawsuit). Literally say "this is not an acknowledgment of this debt".





Indicate that you would like to expedite removal of this derogatory item on your credit report and are willing to pay $125 if they will delete the item from your credit report.





If this settlement is acceptable, have an authorized agent of the collection agency sign and return of copy of the letter to you. Upon receipt of their acceptance, you will send payment.





They may give you a counter offer. Just make sure you have a written agreement before you pay. Do not give them direct access to your bank account.





The older the debt, the more likely you an settle for less. If the forgiven portion of the debt is $600 or more, you may get a 1099 and have to pay income taxes on the forgiven portion.
Reply:you can negotiate - they don't have to agree and your credit score won't recover any faster by not paying your debts in full - just call them - nothing clever needed
Reply:Be honest with them.
Reply:bdancer is absolutely correct : Be very careful not to acknowledge the debt...


Before you even attempt to pay off the debt, make sure it is validated (ie do they have the LEGAL right to collect this debt?)...
Reply:Simply tell them that you want to pay all of your debts but you only have a portion of the total. "Would you be willing to accept $300 as payment in full?"





If they confirm you have to GET IT IN WRITING. Otherwise they'll say, "sure, send a check for that amount" but they'll come back for the rest after your check clears. Have them confirm in an email. That should be easy for them.