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BigLebowski67
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carol
Joined: 27 Jun 2006
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Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Tue Jul 07, 2009 10:14 am
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BigLebowski67
Did you agree to pay off the debt in full? Usually CAs delete the record if the debt has been paid in full and it is not illegal to do so. Many CAs also delete records if the debt has been settled for less than the actual amount. It is actually the discretion of the collection agency whether they want to delete the record or not. See if you can get your collection agency to delete the record for you. Try and convince them. You cannot force them to do this though.
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Tue Jul 07, 2009 12:54 pm
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Carol is correct. They can delete it but you can not force them to do so. Also what you must relize is if this debt is owned by a collection agency and not the Original creditor then you will always have a mark there on your credit report anyway.
A pay for delete would get the collectors mark removed from your record but the original creditor has sold off the debt and more than likely will continue to report it for the full 7 years. I would still try for the PFD but it may not help your score at all since the original mark is there. |
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Tue Jul 07, 2009 11:10 pm
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| They refuse to do a PFD. They claim it is illegal. |
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BigLebowski67
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Tue Jul 07, 2009 11:11 pm
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They refuse to do a PFD. They claim it is illegal.
Whoops...forgot to put in my name. :blush: |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
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Wed Jul 08, 2009 12:56 pm
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Apparently this company may not want to settle for a pay for delete. If all of your efforts to get them to agree to one has failed I would be sure they could validate the debt with proper validation and then just try to get it settled for as little as possible.
Some companies will relieve as much as 50% of the debt and accept payment plans. I would just not advise giving them your checking account number if setting up plans. Simply use a money order to pay and keep all receipts.
As I said in a prior post if the original creditor does not own this debt and the collection agency does then there will be a mark on your credit regardless from the OC. It will not make much of a difference since it will be from the same debt. You may just want to set up a repayment plan and get them off your back. |
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carol
Joined: 27 Jun 2006
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Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Thu Jul 09, 2009 9:20 am
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Hi BigLebowski67
Yes I agree with fireyone. They clearly do not want to settle for a PFD letter. Well, does the original not own this debt anymore? If they still do then may be you could contact them to withdraw this from the record and you would agree to pay in full. Remember everything must be in writing.
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
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Thu Jul 09, 2009 12:25 pm
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| Also please be sure to remember how important it is to send any paperwork by certified mail, especially the validation letter. We have some really great sample letters that you could use. Just look for the letters of credit section and I am sure you will find what you need. If you need further assistance please feel free to ask. |
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Doc
Joined: 02 Dec 2008
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Posts: 203
Location: McKinney, TX
954 Magic Points
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Thu Jul 09, 2009 12:43 pm
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They are in no way required to honor a pay for delete... In fact, the integrity of the credit reporting system is considered 'compromised' by this practice. Therefore, it is widely discouraged... Some companies do it, others simply do not.
It is NOT, however, illegal.
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-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
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Thu Jul 09, 2009 12:49 pm
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| What I can not figure out is why it is such a hassle. If someone owed me money and I could get it back with no more hassle then a pay for delete then I would jump on the chance. It would save the collector court and other fees associated with suing for the return of their money. |
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BigLebowski67
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
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Tue Jul 14, 2009 1:29 pm
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Did you ask for validation? Make sure you get the proper validation before paying off this bill. Remember also to not give your checking account number when setting up repayment. Some will give you a repayment plan but will ask to take it directly from your checking account. ALOT do not stop at the set amount and then it will cost you more to get back any extra money they take and to get them to stop all together.
Try paying them by money order or cashiers check in full if possible. If you need to make installments then still send them this way. Believe me they will do it cause they want their money. KEEP all the reciepts for proof and NEVER throw them out just in case. If they offer you the settlement..do not make the first payment until they provide you in writing the amount they have agreed to settle for. Doing all this will keep your protected from future battles with them. |
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carol
Joined: 27 Jun 2006
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Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Wed Jul 15, 2009 11:46 am
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Well Big
It seems that you have to settle for that. I would second fireyone. She has given you some great advice. These documentations are very important. With time we may think that they are not required anymore. But going through the recent posts made by visitors, you really need to keep your documents strong. You never know you might get another call from an agency asking to collect the same money again after 3 years.
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
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Wed Jul 15, 2009 1:13 pm
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| Thats why I suggested keeping ht e documents. I have read about it happening all too often and people not having the proper documents to prove it was a settled claim. It also happened to my sister. The came back a couple years later after she accepted a settlement offer. The were asking for the remaining amount. She thankfully had all her paperwork including the settlement letter stating what they would accept. Od course she had to call the atty general and I believe the FTC to get them to go away. Sometimes we can use others experiences to help us make sure we do not fall into the same traps. |
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carol
Joined: 27 Jun 2006
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Posts: 1362
Location: Los Angeles, California
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Thu Jul 16, 2009 1:10 pm
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| Quote: |
| Sometimes we can use others experiences to help us make sure we do not fall into the same traps. |
True Firey 
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Carol |
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