Yes. Consumer law in this area is highly technical. Not only is there federal law covering this area, but also state law – which varies from state to state. You might do something that you think is fair under the circumstances but might in reality seriously prejudice your rights.
Moreover, if you have been harassed by bill collectors and they have committed a civil or criminal wrong against you, contact a consumer law attorney. You might be entitled to damages, both punitive and actual damages.
Play it safe and see a consumer attorney near you.