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Subject: I know I read it here someplace...
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Thu Jan 15, 2009 12:56 am
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Hello all,
If I can't negotiate for a PFD agreement, what is the next best negotiation terms.
I know that I read someplace here that I can request a certain phrase to be agreed upon, like "Paid in Full" or "PAid as agreed" but NOT "Paid for less than full"
Any Ideas.
Thanks |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Thu Jan 15, 2009 2:57 am
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| I remembe seeing it here also. I am almost certain it is paid as agreed because I thought to myself at the time that paid in full to me would look betterthan the other. I even asked a few questions on it. I am pretty sure paid as agreed but someone will answer this for sure. If your having trouble wiht a pay for delete maybe Doc will stop by and talk with you. You could also try visiting hos iste. |
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Guest
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Thu Jan 15, 2009 4:09 am
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| Doc?? IS that a member name? |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Thu Jan 15, 2009 5:38 am
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Hi guest
If the creditor or the collection agency do not agree to pay for deletion agreement, you can negotiate with the creditor to change the status of the listing as "paid as agreed" instead of "paid in full", because it will have a lesser negative impact on your credit score. Whenever, you pay off the debt in full, the listing will automatically be show as "paid in full". You just need to ask the creditor to list it as "paid as agreed".
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Keep in touch
Carol |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Thu Jan 15, 2009 12:03 pm
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The only notation that has a negative impact is "settled", or "settled for less than the full amount."
"Paid" is fine, in virtually all its forms...
Oddly, though, do remember that the balance of a collection/charged-off account is immaterial in the credit-scoring formulas. The damage is caused by the presence of the charged-off or collection status, not the balance. So if you pay off a balance on one of these accounts, don't expect a change in score.
Reduction of outstanding balances only impacts OPEN, ACTIVE accounts...!
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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
fireyone's page
Posts: 4500
8812 Magic Points
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Thu Jan 15, 2009 12:58 pm
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| I think when it would matter what is being written is when a potential creditor would be looking at your credit record. If you go into a bank and they pull up your account "settled for less than the amount would look worse than paid as agreed. Thanks Doc for stopping in! |
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Mary
Joined: 06 Jul 2006
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Posts: 730
17417 Magic Points
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Fri Jan 16, 2009 10:28 am
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"Paid as agreed" or "paid in full" has more or less the same impact on your credit score, but it is better if you can make the creditor agree to "paid as agreed". However, as DOC said, you should negotiate with the creditor that he does not report as "settled for less". However, any negotiation must be done before you start paying off the debt because once you pay off the debt, the creditor or the collection agency would have no incentive to change the status of the listing.
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Where there's a will, there's a way !! |
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