I requested a Pay for Delete and the CSR I was dealing with said he thought they could do that for a balance in full (~2100 vs ~1375 settlement they were offering). Then went to get a manager. Manager wouldn't budge, said if I was contacting them, there was nothing I had that they wanted but obviously I needed to get something done, so they wouldn't agree to remove negative TL's or to delete anything. Now, my biggest mistake was dealing with them before I found this site. I stupidly informed the CSR I was dealing with that I was going to try to buy a house in 6 months. So what should my next move be? This is only about a year old CO with Dell, so I don't think they'll be any problem validating and verifying this one. I am moving 1300 miles away in three weeks. Should I dispute old addresses after I get there, including my current one and then try to dispute the Dell thing afterwards? Incidentally, this is the only unpaid item on my CR, but it's listed twice, once through Dell as a CO and once through the CA. Any help please for getting this off my report by September?
You shot yourself in the foot telling them you're trying to buy a house. It's very unlikely they will agreed to remove the TL regardless of the amount you pay. It will be reported 2 times on your CR. You can send them a PFD, but again unlikely to happen.
I would play "hardball" with the Manager. If they do want to do a "Pay For Delete", then pay only the settlement amount. $725.00 should be "something they want". I would also stretch out the payment terms. They would like as much money as soon as possible. I would also review all the facts and documents around this account; look for any error or illegality they may have committed. If you have the money available to pay, then you have leverage in the negotiation. Just "don't blink"! Remember, even if they finally agree to remove the tradeline, the original Dell tradeline will remain.
So they offered her about 70% settlement in one payment I assume. Now you're telling her to tell them to offer about 33% of the balance in payments and remove the tradeline? That will never happen. The best option is for a PFD for the amount they offered, one payment offer the due date by some date in April.
Don't I know it, now. You know, why credit repair and maintenance isn't a required high school and college course is beyond me. The great representatives and senators in this country are pretty quick to stop an amateur photographer from taking pictures in a public place, citing the Patriot Act, but something that really matters, it seems they don't really give a crap about. I'm just glad I'm finally starting to learn. You can guarantee that my kids will not be uneducated on these matters as I was. Not blaming my parents, mind you. 2 wonderful, blue collar people who brought 5 of us in to the world within 8 years. But the ins and outs of the world of credit reporting were not as important when they came up. House prices have well outpaced wages for years now.
Giving the information they know, yes whatever amount they previously offered fax them a PFD for that amount, due in April and see what the response is. From my POV, if I were the CA I wouldn't even offer that amount anymore, as long as the offer hasn't expired. They know you are getting a mortgage and know this needs to be cleaned up before you can get one, or you will be paying possibly high interest.
LOL, I'll be paying high interest rate no matter what, I'm guessing. Unless I go with the FHA, in which case, I'll need to come up with $10-$15k I don't have to get the house we want...
No, I am not telling to offer them 33%, $725 is the difference between the "full amount" ($21,00) and the "settlement amount"($1,375). My position is that the $725 difference is motivation for the agreement to delete. As the $725 would be pure extra profit (if purchased debt), correct Collectman?
Ok that makes more sense They are now int he mind set that they can get the full balance or the settlement without having to delete, due to the OP needing a mortgage. This account could be the deciding factor or getting the mortgage or being denied. Some mortgage companies will require everything to be paid prior to approval.
So I drafted a PFD, but had a question before I print it. Let's say for one second they agree to the PFD, that would then leave me with a CO with the OC on my report and no indication it's been paid, right? Won't I have a problem with that? Or should I be demanding deletion of both accounts?
You will have to contact the OC and ask them to remove or dispute with the CRA's after paid and removed from the CA.
If you get the PFD, then you will be left with a CO from the OC on your credit reports, but it should show a $0 balance, and noted transferred to CA. You will have the evidence for your mortgage with the paperwork and canceled check from the CA. The paperwork should link to the OC account number. As for the OC CO tradeline, all you can do is try to dispute with the CRAs, though it is unlikely they will remove. They most likely will update to PAID.
I disagree. Schools should not be teaching people how to FIX things once they get in over their heads - that's nothing more than saying, "Go screw up, cost everybody a bunch of money, but here's how to fix it." What they SHOULD teach is mandatory courses on fiscal responsibility and money managmenet. As in, teach you how to NOT accept a loan in the first place if you have reservations about how you're going to pay the lender back. As it should be. I want my federal legislators worrying about homeland security. I DON'T want the federal government telling me what should and should not be taught in a classroom -- that should be up to each state (i.e., the DOE should be abolished).
I'm thinking maybe you should read more closely. I said repair AND maintenance. Maintenance is for everyone, whether your score is 850 or 8.50. And you have how many millions of kids going off to college each year with virtually no idea of how the world or credit works who are going to be inundated with credit offers just large enough for them to hurt themselves. And if you think bothering a photographer because he's taking a picture of the Empire State Building from a block away is improving National Security, you're delusional. That's just an example, and I have even more ridiculous ones than that, based on my own personal experience.
