If you have no valuable assets offer to pay an amount you can afford and put it in writing explaining why and offering to increase payments when your situation improves.
You cannot do better than this and any reasonable court would agree to these terms. However, if you have valuables that the finance company can seize to cover the debts that you owe, you will have to resign yourself to the situation.There are strict laws that prohibit collection agencies from harassing debtors. Just because they claim you owe them money, does NOT give them license to do whatever they want!

You can read here about what collection agencies can and cannot do by law:

http://creditrepairanddebtsolutions.com/fair-debt-collection-practices-act-fdcpa/

And this letter will often get them off your back, or at the very least will keep them from calling you on the phone:

http://creditrepairanddebtsolutions.com/debt-validation-sample-letter/Basically settle the bills they are chasing ASAP.
Every time they contact you/visit you they add their charges so the sooner you sort out the cheaper it is for you. I think they add about £300 per visit so it’s not cheap!By pay them what you owe, ask them for a payment plan, and of course if they refuse don’t be offend, because the reason for a collection agency is because you refused to pay the official owner of your debt.
Good luck! The calls or letters won’t stop until you pay. just turn the ringer off on your phone.Send them a Cease and Desist order.

Your Name
Your Address
Date
Collection Agency’s Name
Collection Agency’s Address
Subject: Debt Collection Against [Your Name]
Creditor Name: [Creditor]
Account No. [Number]

Dear Account Representative,
I am writing pursuant to the Fair Debt Collection Practices Act, 15 USC 1692c(c), to request to request that you cease all communication to me about my account [number ________] with [creditor].
[If you wish, explain your circumstances. For example, "I was recently laid off from my job, and I do not presently have any resources with which to pay off this debt. Once I have again secured employment, I intend to resume payment on the debt."]
[If there have been any violations of the FDCPA, you may wish to describe them. For example, "Please note that in violation of the Fair Debt Collection Practices Act, one of your agents contacted me last night at 9:30 PM. Should your agency contact me at any time in the future, please be sure that your contact is made in full compliance with the FDCPA."]
Sincerely,
[Your Name]

 

The best blog related to credit card consolidation services