ABSOLUTELY. You have to ask if the debt collector is the company to which you owe the debt. A bank is forced to resell your credit card debt when it stays too long on their banks. Debt collectors then buy this debt for a very reduced price but they still try to extort the total amount and even more interest from you. As an example, you may be 7 months late in paying $1,000 on your credit card. The debt collector has probably purchased this amount for a substantially lower amount, let’s say $600 to make it simple. This number is not an actual market figure and should not be a reference for you. The bottom line is that you should not be afraid to negotiate a much lower amount to be paid back.