Legal Question in Credit and Debt Law in Georgia

You can offer anything. But unless the creditor agrees, anything less than what is due (and that now may include late fees and attorneys fees), won't help.

The collection agency may or may not own the debt. If they don't, then they cannot release the title.

You can always make a settlement offer. The fact that the car lender turned this over for collection rather than repo'ing your car sounds like the car lender does not want it. If that is the case, there is a chance that the collection agency may be more likely to take a deal.

Before you pay anything, you need to get confirmation of any deal in writing. Any deal would have to include release of the title.

Since this is pre-judgment I would start low and work your way up. How much is owed? What can you afford to pay in one lump sum? Start at 20% (if you can pay that in a lump sum). and tell them you lost your job and that is all you have and see what they say.

Some tips - call mid-month and agree to have any payment by the end of the month. Debt collectors sometimes like to clear their books by the end of the month. Most collectors hang onto the account for a few months so if you need time to build up funds, only call them when tyou have the funds. If you want to do payments, then the collector may not be willing to reduce the balance owed.