I am reposting this question from a previous thread. Would appreciate any insight. Does the collection agency have the power/ability to change the original company's records on the credit report? How about the reverse...if I was to settle with the original company(Providian, etc., can they remove any listings on my credit report that have been posted by the collection agency?
RE: Can Collection agency chan If Providian sold the account the collection agency can change it to reflect the interest and late payments. If they are just collecting they can only report what Providian provided them. John
Negotiating for Paid in Full So if they sold the account to this collection agency and I am negotiating for Paid in Full or Paid as Agreed status with no derogs then the collection agency can make this change????
No. Only accept "paid as agreed" with no negatives. Paid in full is not worth it. OR DEletion. Always ask for deletion. roni
RE: No. roni wrote: ------------------------------- Only accept "paid as agreed" with no negatives. Paid in full is not worth it. OR DEletion. Always ask for deletion. roni ____________________________________________ Some thing like this should always be deleated! Why should the creditor get paid while the consumer is screwed with a bad report ??
Because.... if you get it changed to "paid as agreed" you get a positive added to your report. Deleted a negative is good, but this way you kill two birds with one stone. roni
RE: No. > Some thing like this should always be > deleated! Why should the creditor get paid > while the consumer is screwed with a bad > report ?? That's an ignorant question. Why should the creditor get paid? Because you borrowed the money under the agreement to repay it, that's why. Why should they NOT delete the item? Because it's ACCURATE information -- you borrowed money, you did NOT fulfill your agreement - paying it back 2-3-4 years later, AFTER it's gone deliquent/to collection/charged off/etc. does NOT constitute "PAID AS AGREED". It's the responsibility of the CRA to maintain ACCURATE information. You borrow money and don't repay it according to the terms, it's YOUR OWN fault that your credit history is screwed, not the CRA or the creditor. You screwed YOURSELF.
RE: No. John, I usually agree with you but I think you're all wet on this. You say "You screwed Yourself" - sometimes things beyond someones control can happen like illness, car accident or unemployment. Does that mean they screwed themselves? I don't think so. If something along those lines happened and the debtor is back on their feet in 2 years and decides to do the honorable thing and pay, should they be screwed for another 7 years? Again, I don't think so.
