I have received numerous letters from CA's that are willing to accept half of the balance on som credit cards that went into collections about 4 years ago. I was going to wait for them to fall off, but I have decided to buy a house now. I only owe on two credit cards for a total of $2000.My question is, if I want to pay off the debt in exchange for a deletion off my credit report, who would I negotiate with? The OC or the CA?
You should check with your mortgage broker to see if you even need to pay them off. 4 years old may not be an issue. BTW...after 4 years all CA's will negotiate.
Make sure everything is in writing and do not negotiate on the phone. Even if it takes a week of faxing, writing is the only conversation
