How soon............?

[magyar123]

How soon - months wise - will a creditor or collection agency offer you a settlement of a delinquent debt?
Will contacting the creditor/collection agency on your own expedite matters?
Is it more likely for creditors/collection agencies to propose settlements exceeding a certain $ amount than bother with accounts under that amount - say $500?

[JRScott]

Probably accounts 6 months or more overdue, some do it quicker but not many.

Remember though that if you settle the account for less, you are liable for taxes on any forgiven amount of 600 dollars or more.

[HHM]

Some may offer settlements, some never do. but generally speaking, you need to be delinquent about 6 months before creditors and collectors will even entertain a settlement.

First question I would ask you: what kind of settlement are you prepared to make? We can probably offer you some insight as to whether your assumptions are accurate or not.