MY Experience.

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select sterio in speaker configuration if u r using
headfone or 2.1 speaker before installing game.
- If you have installed game, the you must first uninstall
game and then change speaker configuration to sterio
(without uninstall, if u change configuration to sterio,
then won't work) and reinstall game.

I'm no expert but I had the same problem and managed

to fix it!
I'm no expert when it comes to this, but I was ****ing around with a few audio settings
and finally got the voices to work.
I'll just give you the list of things I can remember doing.
1. Go to Control Panel > Hardware and Sound > Sound > Recording (Tab) > Right-Click
(Stereo Mix) > Enable.
2. I'm playing it through the new Steam Big Screen
3. Go to Control Oanel > Hardware and Sound > Sound > Playback > Right click any of
the audio outputs > Show disabled Devices > Enable any that are turned off.
4. If your using speakers and or headphones make sure the correct output is selected as
default. (Use 1 and 2 for directions to the proper Hardware and Sound Menu.
5. If using headphones like I am. I set them to Quadraphonic instead of Stereo from the
Sound menu by right clicking on them and selecting (Configure).
I really hope this can help some of you fix this issue. As I apologize on behalf of all the
(more than capable) people available, leaving us to suffer.

Only fix i found for this is to set your speakers or headphones to stereo and
format to 16 bit 48hkz. This pisses me off because i have an expensive 5.1
headset that i have to purposely gimp just so i can hear the game. I had a
similar problem when skyrim came out where if i had my sound higher than
16 bit 48khz the game would just crash, but that was fixed after like the
second patch.