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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Thu Aug 14, 2008 1:26 pm
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| I would ask for the pay for delete. It doesn't sound like that is .50 cents on the dollar. Didn't you say it would leave you to pay $4000 or did I read wrong. Also how are you planning to pay this amount up front? Will they not offer you a repayment plan? |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3996
1079 Magic Points
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Fri Aug 15, 2008 10:11 am
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That is a lot of money to ask for upfront, however collectors don't care how you come up with the money, they just want it. Good luck, hope they will come up with a reasonable plan for you to repay this money. keep us updated on your progress.
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Fri Aug 15, 2008 11:23 am
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| In this case I wonder what would happen if someone didn't have the full amount up front. These days people are lucky to even have a savings account much leass with that kind of balance. |
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anthony
Joined: 31 Jul 2006
anthony's page
Posts: 550
13573 Magic Points
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Fri Aug 15, 2008 1:31 pm
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Hi Nate
Instead of "settled for less than the full balance" ask the CA to change the listing to "paid as agreed". Moreover, since the account is not a charged off account, and you are paying around $9,884.3 which is a large amount, you can ask the CA for a Pay for deletion agreement first. Try to convince him for a PFD and if he agrees get it in writing. However, if he is not at all willing for PFD then only ask him to change the status to "paid as agreed".
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Anthony Marx
A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3996
1079 Magic Points
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Fri Aug 15, 2008 11:06 pm
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It will stay on the negative side of your credit report regardless of what you do, I paid off three accounts and they still reflect negatively, they all say paid in full but it DID NOT raise my score at all. Had I known, I would have hesitated to pay them off so quickly. Make sure that you get what you want in writing because you will NOT get any cooperation after they get their money.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Sat Aug 16, 2008 2:15 pm
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| Why GN do you think it doesn't raise your score? I believe that it doesn't but you think it would make a fairly big impact by paying off old debt. It wouldn't show a negative balance so I would have thought it wold have done a little something anyway. |
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NATE
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Subject: Well I Settled
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Wed Sep 10, 2008 7:51 pm
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| I settled for 8000$ on almost 20,000$ I also got the Title to the car which is probably worth in this market $6000-$7000. I couldnt get them to budge on the "settle for less than full balance," but they agreed not to reset the date on it. So hopefully if everything goes as they said and put in writing it will fall off my report in 3 years and I will be done with it. It hasnt hit my credit report yet so I can't speak to its effects on my score yet. It is the only negative on my report though and I'm in the 680's right now, with it like it is. I think it might actually go down, but now atleast it doesnt show as an open balance. Which was stopping a mortage from moving forward. But with the current mortage market I dont know if that iwll even matter. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Thu Sep 11, 2008 5:10 pm
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| You do have a really good credit score. have you tried other mortgage lenders? WSe recenlty went for a vehicle loan and was turned down about a year ago. I really needed the vehicle and decided t go to the bank we did our regular business with and got the loan. The first bank had turned us down due to an old credit card bill and it was the only bad mark on the whole report. In any case I am glad you got it worked out with the vehicle. If you are turned down for the mortgage maybe you should look in to different lenders. Do not let them all pull your credit report bacause it will lower your score. maybe you could go online and get a copy of your report and take it with you when shopping around. You can ask them what the chances are with the report as it is in getting a mortgage loan. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3996
1079 Magic Points
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Sat Sep 13, 2008 12:40 am
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great advice there fireyone, you are exactly right, mortgage lenders are a good alternatives, you can also visit the mortgage forum at the top of the page and present your mortgage question there. keep us updated.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Sat Sep 13, 2008 1:54 pm
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| I just think it is really wise to shop around,especially when someone has a great credit score,as does the poster. |
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erb1953
Joined: 31 Dec 2007
erb1953's page
Posts: 621
-55 Magic Points
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Sat Sep 13, 2008 11:36 pm
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| I agree with fireyone, you have a good score, take advantage of the offers that should be flowing your way. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3996
1079 Magic Points
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Sun Sep 14, 2008 6:01 pm
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Have you went to your local bank to see what type of loan rate you can get there?
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Mon Sep 15, 2008 12:27 am
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| That would be my first visit. |
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Meow
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Subject: Charge off on my auto loan
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Wed Oct 01, 2008 1:43 am
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| The lender collection call me and told me my car will be charge off at the end of the month, the car is in a auto shop so they don't have it. Do I still try to pay? can it still be repo? |
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meow
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Subject: Charge off
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Wed Oct 01, 2008 1:45 am
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| What does charge auto really mean? f |
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