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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
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.
Doc?? IS that a member name?
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".
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...!
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!
"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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OnIDBf Thanks for the blog.Really thank you! Keep writing.