advice needed on ca's

As I mentioned in an earlier post-- I am about to have to call a CA (OC Macy's is refusing to work with me on payment arrangements- saying it has been turned over to collection agency)-- When I do call the CA I would like to know how they determine on the front end of how much a debtor should pay- My min. payments on this card was 165 to 170 monthly-- after loosing my job and getting another lesser paying job-- I was only able to pay between 70-100 each month (some months I could pay 100 others only 70 or 80)-- I can still pay about 100 each month and would be willing to commit to this agreement but just wanted to be prepared for what they may say before I call them-- how likely is it that they will settle for this monthly amt on a debt of $3400.00? Or how likely is it that they will try and force me to make arrangements on something larger? I know you guys have some other "more serious" problems posting but you can't imagine how much this is worrying me and scaring me-- any advice would be greatly appreciated.

Hope

 

last payment was in November (rec'd letter from CA Dec 26-Merry Christmas) and not much at all goes towards the balance I think the interest is like 22% (it was 4% until the first time the payment was late)-- plus every month since min. pmt was not made in full it was considered late-- in addition to interest charges there was a 35.00 late charge assessed every month.

This debt was incurred in 2004 so SOL is still a ways away I believe.

Thank yall so much for this forum and for the advice yall give everyone-- we learn so much from everyone else's situation as well as our own.

Thanks for any advice this whole Collection Agency things scares the crap out of me-- and I need to call (or write them soon I suppose since it has a couple of weeks since I rec'd their notice)

Hope B.