Should I pay to a collection agency or to the original credi

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cesar_ramos37

Joined: 15 Jan 2010
cesar_ramos37's page
Posts: 1

31 Magic Points

Subject: Should I pay to a collection agency or to the original credi

Fri Jan 15, 2010 5:57 pm

I have few accounts on collection agencies ( more than one year), finally I will be able to start making payments, but I have a big question: Should I pay to the coolection agency or to the original creditor (bank, store, credit card company)?????; should I request a settlement or pay the complete total amount of my debts???? What can I do to start rebuilding my really bad credit???

Guest

Subject: annual credit report

Fri Jan 15, 2010 9:59 pm

Get free copies of your credit report first

cinnamngrl

Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1455

6339 Magic Points

Sat Jan 16, 2010 1:19 am

[url]"https://www.annualcreditreport.com/cra/index.jsp"[/url]

1. get hard copies of your reports
2. dispute the collection agencies that have listed
3. Send DV letters to directly to CAs
4. If they can validate, negotiate settlements--hopefully Pay For Delete. If they won't delete, then negotiate a lower pay off
5. paid chargeoffs still look bad so either get a low settlement or get a delete
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How to PFD, OPT-out, Complain, etc
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debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 594

99 Magic Points

Sat Jan 16, 2010 3:03 am

After you get your credit report check to see if the accounts are still in the SOL of your state. If it has past don't pay anything on them because you will have to pay it. If it is then send the debt validation letter. Make sure to send certified mail with receipt. If they can validate the debt then you can try and work out a settlement with them. And maybe a pay for delete. Just keep in mind not all companies will agree to a pay for delete but it is worth a try.

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