Collection Company is calling and writing. They are collecting on a 4 year old debt.

I have a $7,800 collection first reported on Feb. 2003. The collection co. hasn't given up on collecting, but I haven't paid them and would like to avoid paying if possible. I still receive a phone call or form letter every few months, but I've never answered them or acknowledged them on the phone. I was wondering if this will come off of my credit reports on Feb. 2010? Do I have to take any special action? Is there anything the collection co. can do to keep it on there, like sell it to another co, for instance? Anything else I should know? Also, if I do end up in negotiations with the company, how much should I offer to pay and how do I ensure that they will remove the record from my report? -- Best Regards,
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"majors@oskie.com" / to / show details / Jul 5
original creditor, they will tell you what you might be able to do.
hope for .35. But who knows?
get a letter on company letter head.
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What was the collection for?
Is there another entry is yes above?
There is a distinctly high chance for some other action is possible by the collector because as you state they are able to contact you: 1 Suit? 2 Re Date like you state by selling to another collector or small claim
Not talking to them might work but I would rather pay them and negotiate if at all possible, especially if, the collection is a result of inablity to pay something I signed up for and agreed to pay in the first place.

One thing I need to address is that more often than not good credit is a direct result of stable workable income. If I can not pay what can I do?
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Thanks for answering. The collection is for a student accounts balance (not a student loan, so it would eventually fall off.) I am in the position to pay something now, but not the whole thing. I also don't want this to drag on any longer. My credit score is 675, and I'd like to pump it up a bit more to purchase a house soon. How do I negotiate with them so I don't have to pay the full amount? How much on the dollar can I expect to pay? Should I negotiate with the original creditor or with the collection agency? How can I be certain they'll take the record off after I pay?

Thanks again,
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"majors@oskie.com" / to / show details / Jul 5
675 is a good score so wrok wih these folks if you can not upset that score.