Please advice me

Submitted by poorman on Fri, 07/02/2010 - 20:25


I have 3 accounts that I need advice on.

I have 1 charge off account that is not in collections. I want to pay the entire amount. But don't know how to go about doing so. Should I call the company's phone number listed on my credit report and tell them that I will pay, if they send me a letter saying that if i pay the amount, they will consider it paid in full and inform the credit bureaus to update my account to a paid charge off entry.

I have 2 accounts in collections and want to pay the entire amount for both. I get calls from the collection agencies, but don't answer. They have sent me letters in the past but its past the 30 days after I received the letter, so I can't write a debt validation letter. Should I call them or answer the phone when they call and ask them to send me a letter of what i owe. That way i can then send them a debt validation letter once i receive a written letter from them.

Also, I heard that when you send a debt validation letter, the collection agency removes the entry from your credit report until the dispute is resolved. But it reports the dispute in your credit report. For how long does the dispute show in your credit report. If the collection agency never gets back to you, will it never get removed from your credit report? will the dispute look bad when someone checks your report?


For the first one you can do exactly as you suggest, contact the company and pay them. You may want to see if they will offer you some kind of settlement that way you won't be paying the whole amount, many times when something has went to collections they will settle it with you for a smaller amount.

Read through some posts and see what people have settled out for on here, there are many.

As far as the other two, you can use the same approach. Make sure that you get a paid in full letter from all of them when you pay so that future collectors don't come after you for a debt that is paid, this happens quite a bit when something is in collections, it is on you to keep the proof.

Fri, 07/02/2010 - 22:42 Permalink

Thanks goodnatured. I don't want to settle. I'm able to pay the entire amount. I don't want the word, settled in my credit report. That looks very bad.

Also, if i pay the 2 collection accounts, how do i make sure that the original creditors update their entry to Paid Charge Off.

Fri, 07/02/2010 - 23:07 Permalink

have you consider pay for delete letters? I would think this would be a good idea, you might be able to pay it off and get it removed from your credit report altogether...

Sat, 07/03/2010 - 00:48 Permalink
Anonymous (not verified)

Should a pay for delete letter be sent after debt validation is done? If so, then why do the contents of the sample pay for delete letters, on this forum say that no debt validation has been done?

Sat, 07/03/2010 - 02:36 Permalink

Hi poorman,

I think you have forgotten to sign in before posting your query. Well, the sample Pay for delete letter is only a sample. You can use it to write one of your own. Change the wordings as needed.

Yes, a "Pay for delete" (PFD) letter is sent after debt validation. However, if you are sure of the debt, you need not send any validation letter. However, if the collection agency agrees to PFD, get the agreement in writing.



Sat, 07/03/2010 - 10:25 Permalink

Yes Aaron, looks like I didn't log in. I thought I had logged in, but maybe I didn't. The Guest entry above your's is mine.

I know when I get a letter from the collection agency, I have 30 days to send them a debt validation letter. But how long does the collection agency have, to send me proof that the debt is mine.

I know that I have some debt from the original creditor, but am not sure if the collection agency that calls me or sent me letters is the collection agency that is authorized to get payment from me. I don't want some other collection agency contacting me after i have paid off the debt, saying that they are the ones that are authorized to get payment from me. Thats why i wanted to send a debt validation letter.

Sat, 07/03/2010 - 12:15 Permalink

Thats a good idea to send a DV letter before making a payment...have you also considered sending PFD letters? I think that would be a good get everything removed from your credit report altogether...good luck, Happy 4th....

Mon, 07/05/2010 - 01:47 Permalink

thanks vfsalinas05. happy 4th to you too!

the problem with pay for delete for collection accounts is that, if they get deleted, it will look weird because the original creditor's entry will still be there. so people who check my report will see that the original creditor says charge off and account sold, and think that i got the collection account deleted.

Mon, 07/05/2010 - 03:11 Permalink

I have that, on my CR, as well. An OC says the debt is "sold"..however..the CA says the "debt is PIF." I tried to 'dispute' the OC, off my CR. But, didn't happen. It's almost like a 'double whammy'. I guess you can look at it this way. If ONE of the TWO debts are gone, then you have one LESS negative item. I just feel we all have to take 'baby steps' (sometimes) to deal with 'fixing' our credit. Hope this makes sense to you.

Mon, 07/05/2010 - 13:01 Permalink

I wish there was a neutral column on our credit reports, one that would take the negative ones that are paid in full and move them off the negative, that way, potential creditors could still see them but they would not affect our scores, they would have no point value. I think they should be removed faster than a regular negative listing on our reports, like instead of seven years they would only stay on for three and half years.

That would give people incentive to clean up their reports and pay their old bills right?

Tue, 07/06/2010 - 02:25 Permalink
Barbara_Elena (not verified)

For the first, you contact your company and tell them you want to pay that will help you get rid of your debt in question.
For the second, if you have not sent a debt validation letter within 30 days, it means that the debt is valid and you accept that you owe the debt to the collection agency. But it is considered valid by collection agency only and not by the court or the credit bureaus. So you can always dispute the debts legally.
After paying off your debts make sure to send a letter for “pay for delete” in order to get the collections removed from your credit report and get everything in writing as this will act as a proof.

Thu, 07/08/2010 - 09:41 Permalink

Hello, GN. That WOULD be a good idea. It would help people (like me..LOL) clean up their credit sooner. I recently looked at one of my CR. A few more, of my 'negative' accounts should 'fall off' this year. Also..a few of them, the SOL would expire, this year, as well. Sometimes it's a struggle.

Thu, 07/08/2010 - 11:18 Permalink