Hello again, Mike. You are very welcome!
1) Should I contact the company who bought the debt or the law firm representing them (my assumption is that the company wants to save on the lawyers, so I go to them).
ANSWER: The company will likely refer you to their attorneys and if you are served at some point, it is typically appropriate to respond to their counsel, not the party directly.
2) How do I waive service? How would I communicate that.
ANSWER: There is a document the creditor would typically have you sign if you agree to waive service. Make sure any agreement you settle on is in writing and signed by both parties to ensure the creditor does not later change their mind on the terms of any agreement you enter into.
3) Could you offer a ballpark for what I should consider for a lump sum settlement? The account was closed two years ago. Or if a monthly plan, what would be a reasonable payment?
ANSWER: That's not something I can provide, not having the opportunity to review the case, but it might be around 50% of the debt owed. If the debt could be paid off in a couple of years, that payment plan would normally be reasonable.
I hope this helps clarify the situation for you.
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