u/Aggravating_Move615

Hi everyone. I’m hoping to get some advice from anyone who has gone through something similar.

My father was laid off from work while I was still in college. Since then, as their only child, I’ve been the one supporting my parents’ daily needs. We eventually moved from our old city to the province after I found stable employment.

Recently, I traveled back to our old city and found a demand letter addressed to my father. That’s when I learned he has an unpaid debt with Metrobank, and the account has already been endorsed to a law office/collection agency.

When I confronted my parents, they admitted they knew about it but didn’t tell me because they didn’t want to become an even bigger burden. My father is now a senior citizen, has no source of income, and I’m the one supporting both of them financially.

I want to help settle this debt, but I honestly don’t know where to start. I have a few questions:

1. Is it possible to negotiate directly with the law office or collection agency?
2. Can I request a significant discount or settlement amount considering my father’s age, lack of income, and our financial situation?
3. What documents should I prepare before contacting them?
4. Are there things I should avoid saying or agreeing to during the negotiation?
5. Has anyone here successfully negotiated a reduced settlement for an old bank debt?

I’m not trying to avoid paying. I genuinely want to resolve this properly, but I also hope they’ll consider our circumstances and offer a reasonable settlement that I can actually afford.

Any advice or experiences would be greatly appreciated. Thank you.

Hi everyone. I’m hoping to get some advice from anyone who has gone through something similar.

My father was laid off from work while I was still in college. Since then, as their only child, I’ve been the one supporting my parents’ daily needs. We eventually moved from our old city to the province after I found stable employment.

Recently, I traveled back to our old city and found a demand letter addressed to my father. That’s when I learned he has an unpaid debt with Metrobank, and the account has already been endorsed to a law office/collection agency.

When I confronted my parents, they admitted they knew about it but didn’t tell me because they didn’t want to become an even bigger burden. My father is now a senior citizen, has no source of income, and I’m the one supporting both of them financially.

I want to help settle this debt, but I honestly don’t know where to start. I have a few questions:

1. Is it possible to negotiate directly with the law office or collection agency?
2. Can I request a significant discount or settlement amount considering my father’s age, lack of income, and our financial situation?
3. What documents should I prepare before contacting them?
4. Are there things I should avoid saying or agreeing to during the negotiation?
5. Has anyone here successfully negotiated a reduced settlement for an old bank debt?

I’m not trying to avoid paying. I genuinely want to resolve this properly, but I also hope they’ll consider our circumstances and offer a reasonable settlement that I can actually afford.

Any advice or experiences would be greatly appreciated. Thank you.

Hi everyone. I’m hoping to get some advice from anyone who has gone through something similar.

My father was laid off from work while I was still in college. Since then, as their only child, I’ve been the one supporting my parents’ daily needs. We eventually moved from our old city to the province after I found stable employment.

Recently, I traveled back to our old city and found a demand letter addressed to my father. That’s when I learned he has an unpaid debt with Metrobank, and the account has already been endorsed to a law office/collection agency.

When I confronted my parents, they admitted they knew about it but didn’t tell me because they didn’t want to become an even bigger burden. My father is now a senior citizen, has no source of income, and I’m the one supporting both of them financially.

I want to help settle this debt, but I honestly don’t know where to start. I have a few questions:

1. Is it possible to negotiate directly with the law office or collection agency?
2. Can I request a significant discount or settlement amount considering my father’s age, lack of income, and our financial situation?
3. What documents should I prepare before contacting them?
4. Are there things I should avoid saying or agreeing to during the negotiation?
5. Has anyone here successfully negotiated a reduced settlement for an old bank debt?

I’m not trying to avoid paying. I genuinely want to resolve this properly, but I also hope they’ll consider our circumstances and offer a reasonable settlement that I can actually afford.

Any advice or experiences would be greatly appreciated. Thank you.