My friend has charge offs from Capitol One and Providian. She has received settlement letters from third party Collection Agencies for 45% of the original debt. She is willing to settle, but they won't remove the entries from her credit report. They are telling her that they can only report "settled for less than the full amount". What can she do to get them to agree to remove the negative entries on her credit reports?
They can report any way they want - they could not the account as "paid as agreed balance =0$" This would not contradict anything as far as they are concerned because - 1. They made an agreement with you to settle a debt 2. You performed as required under the agreement 3. Therefore you paid as agreed Sounds like they are pressuring you to settle the account. What validation have they provided so that you know how much is actually owed etc? You have some leverage here, since you can insist if they want to get paid they mark your CR in a favorable manner
