There are two types of debt collectors. One is a debt buyer. The other is a debt collector. A debt buyer owns the debt. As far as settling with a debt collector, the debt buyer is who you want to deal with. They have paid pennies on the dollar for the debt and you can make a good deal to resolve the debt. The debt collector is operating usually on a third contingency with the actual creditor. They are a little more difficult to negotiate with. Understand the differences, as it benefits you.