Debt Settlement With Collections Agency

Discussion in 'Credit Talk' started by C951, Jul 14, 2014.

  1. C951

    C951 New Member

    Hello, id like to know what would be my best option for getting a ( 90 Day past payment ) off my credit score? My credit report does not show any derogatory information. A Collection Agency recently sent me a letter stating that they would settle the debt for 50% lump sum, however they will only report the debt as a settled debt and not as paid in full. what are my best options here? attempt to settle the debt? or just wait out the 7 years? my credit score has already been affected and I have noticed an increase in my score since last year. thanks for any reply.
     
  2. jam237

    jam237 Well-Known Member

    A CA's listing is entirely separate from the OC's tradeline (which would have the 90 DAYS LATE notation).

    A CA can never make a binding commitment on behalf of another person.

    That'ld be the equivalent of me promising the IRS that you will write a check to cover the national debt.

    I am confused, because you seem to say in your question both that it does show derogatory information, and that it doesn't,
     

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