u/Creative_Arugula_770

Hi everyone, I have some questions. Would love to hear any feedback, advice, or general tips. I financed a 2020 Toyota Corolla back in April of 2022 and it was repossessed on December 9, 2022. I had lost my job and my life was a mess at the time for a multitude of reasons. I haven’t been able to pay the debt of $6,724.04 as of today. I got a letter from a debt collector “law firm” and they are saying that if I don’t pay they can file a lawsuit against me for the money. I’ve gotten into a better financial situation as of July last year. What should I do? Should I try to settle with Toyota motor corporation or the “law firm” who owns my debt? Does anyone think either will settle for 50% since it’s long past due? Anything helps.