A collection agency contacted my mom two days ago for a delinquent account. The person she is speaking to is offering a 40 cent on the dollar cash payout on a $13,000 balance, but says that the offer is only good until tomorrow. When asked why, this person says that it’s the end of the month and that the collection agency has certain quotas and allocations that they have to work with. She says next month is a new month, and there is no guarantee that she could get the same deal. Is any of this true? How she got into this mess is a long, sorted story, but is there anything she can do to negotiate a lower cash payout? Is there anything else my mom should know? Needless to say this is stressful, so I’d appreciate any help anyone can provide. Thanks in advance.

Filed in: Cash Advance Guaranteed