Estimate how much you can pay and offer less.

"Don't do anything you can't afford to do," says John Ventura, consumer attorney in Brownsville, Texas and author of the e-book "stop debt collectors cold" "And don't do anything dangerous."

Avoid sending postdated checks to a debt collector or agreeing to automatic electronic payments from your checking account.

"Presuming goodwill on the other side gets people in trouble," Ventura says.