I just received a call from a creditor regarding a 3 year old out of state utility bill. I revealed nothing on the phone but I did verify my name. I admitted to nothing else and hung up. I am happy to pay this bill but I want to be smart about it. I have what they want, so I wanted to stop to think how to leverage this. Currently this is not showing up on my credit report. How can I negotiate payment in exchange for some guarantee that they won't put it on my report? Is this possible? I was thinking of demanding a letter or fax stating that any reference to this on my credit reports must be deleted. Am I kidding myself? We are talking less than $100 here and as I said, I'm happy to pay. Thank you.
I know this is a minor issue but I've worked pretty hard to straighten my credit and spending habits out. Could anyone suggest what I should say or write to these people? Again, I'm happy to pay but would like to protect my credit report if possible. Thanks. EDIT: I just called them (NCO) and said I'd pay if they guarantee in writing that they will delete this entry on my credit report. (I don't even think it is there but it could be in the future.) They just got angry and basically hung up on me.
Stay off the phone and ask them to send you complete details of the debt owed. Basicially follow the validation system. If it's not on your credit report I dont think it's an issue. By law they must validate and send you complete details of the debt. follow the DV system and buy yourself some time or simply send them payment CMRRR, with a letter that states this is paid in full and by cashing it they will not report to collections. Am I correct in understanding that you have the $ to pay it in full??
For a $100 bill, if you can be sure it will not go on your credit reports, it would be entirely rational to pay it, even if it were possibly legitimate, but with some uncertainty. Most CAs will not give you any such assurance, and may have already posted it to your CR. Is your decision the same if you have no assurance it will stay off your credit reports if you pay it, or if in fact it is likely to be put on your credit reports and more difficult to remove if you do pay it? Is the debt legitimate? Specifically, were you the correct consumer responsible for this account, and was your utility service terminated and billed correctly?
