I’m 82 days behind on a quickbooks small business loan through Quickbooks, via Webank. I owe $175,000 on the loan and they’re going to discuss settlement with me.

Has anyone gone through this and have any tips? What’s a realistic settlement offer? And how quickly would I have to pay it?

Should I try to settle before collections? Or after? I’ll be sent to collections in 38 days. What do these banks sell the debt to a collector for .30 on the dollar? .70?