Hi Can you please awnser this questions? If someone decided to settle with collection agency as paid in full how bad or how much damaged can it do for your credit report? Those it look bad when you apply for a loan or credit card if the creditor see paid in full on collection agency ? Thos it stay for seven year from the date you make that settlemnt to collection , and those it impact your credit scor for seven years even when you sttel in full ? Thanks
Good questions. If the credit card company agrees to report "paid in full" on your credit report, then that will only improve your score. Paid in full is one of the best outcomes you can ask for on a settlement, aside from it being wiped away completely. Yes, the settlement will remain on your report for 7 years unless you can convince the CA or creditor to wipe away the settlement completely. (And it's definitely worth a shot to write them a letter.) However, once you get the settlement to say "paid in full" you're really only improving your score.
Hello again, I was wondering when you pull your credit report from the Anaul Credit Report.com Do you get your credit score with it too, or just the reports ,and how acurate is the reports ?
No score, just reports. It's not a tri-merged report (which is good), its one report each pulled direct from the CB.
Thanks for the reply. Well I send settlement offer back after I received settlement offer from this Attorner Law Firm that they said they are working for the collection agency who bought the debt from CO. I know in fact it's not uncommon for CAs to charge thousands in interest and fees on top of the actual balance, but they did in this case. Any way I have not heard from them in couple month about the offer I send them, and yesterday I received a letter back from this Attorney Law Firm , and what they asking me to provid them is shocking . first they want me to provide them with my checking and savings account numbers to see how much money I have there, and also want me to provide them with all my monthly expensise, and hardship letter. and they said they will send all that informations with my settlement offer to CA to see if the accept my offer. I don't know what they thinking, but I dont think I am applying for home loan. I need to settle with them my be, but not like this Has any body knows any thing about tricks like this from Attorney Law Office , or Collection agency.If you provide them with informations like this how safe is this , or what the outcome? What you think I shoul do please? Thanks for any information you can offer me.
Please answer this questions for me. Well I send settlement offer back after I received settlement offer from this Attorner Law Firm that they said they are working for the collection agency who bought the debt from CO. I know in fact it's not uncommon for CAs to charge thousands in interest and fees on top of the actual balance, but they did in this case. Any way I have not heard from them in couple month about the offer I send them, and yesterday I received a letter back from this Attorney Law Firm , and what they asking me to provid them is shocking . first they want me to provide them with my checking and savings account numbers to see how much money I have there, and also want me to provide them with all my monthly expensise, and hardship letter. and they said they will send all that informations with my settlement offer to CA to see if the accept my offer. I don't know what they thinking, but I dont think I am applying for home loan. I need to settle with them my be, but not like this Has any body knows any thing about tricks like this from Attorney Law Office , or Collection agency.If you provide them with informations like this how safe is this , or what the outcome? What you think I shoul do please? Thanks for any information you can offer me.
What all was in that settlement offer letter you sent back to them? Did you acknowledge in writing (or any other way) that you owe this debt and are willing to pay? Why is the attorney that the CA allegedly hired to collect this debt needing to go back to the CA for approval? How old is this debt and what state are you in?
Thanks for the repply. No, not at all I offerd 25% for complet deletion from all the credit bureaus. I said that I wuld like to clarify that I am not acknowleding or accepting that I owne this debt. He said, that his client meaning the collection agency who hird him requiring my financial information so he can my settlement offer to them. My state is : Montana The debt from 2007 in I dont know my SOL there either? I just don't get it why I have to provid my financial information to show them my hardship or what for them to respond to my offer? Thanks for the help.
Okay (just so I understand this correctly), you responded to a settlement letter they sent you with a PFD letter. Did the CA or this so-called attorney acknowledge and agree to your terms? I don't see why they need your bank account numbers. Your offer to them was one-time lump sum in exchange for deletion, correct? SOL in Montana is 8 years. You're still within it till sometime in 2015.
I just want to thanks for your help. Any way Yes, I responded to their offer witch it was higher with my new PFD letter offer. I just looked at the letter they send me again and NO, they did not accept or agree to the terms because the need to get my financial information and evidence of hardship, and sheet of all my expensise with my account statement, pay stubs,where I work, and addresses. no did not ask for my bank account,but bank statement. Yes, I offerd them one-time lump sum for deletion. I don't realy get what they asking for, and whay?
Please can I get some body to answer some question form this thread and the last one. I realy need your help, and thank you in advance. Do you think I should send settlement offer again to this what the call them self Creditor's Right Law, Firm. Or should I send the settlement offer to actual Collection agency it self ? I did send the same settlement offer to collection agency before,but ye to hear from them. It will better if I can work with the collection agency not with this LAW FIRM, but I really don't want to call any off them I like to do every thing in writing, but, it is taking for ever. What you think guys any info from you will help me o next step ? Those any body had to deal or dealing with this RODENBURG LAW FIRM ? They have to addresses I think NORTH DAKOTA and MINNESOTA. Thanks for the help guys.
The lawyer is fishing to find out whether you are worth taking to court. If you have bank accounts which they could garnish, and you provide them with that information, and they find out that you have enough money to make it worth their while to sue, they can sue, get the judgment, and attach your accounts to get their money quickly and easily.
Do you think I should send settlement offer again to this Office what the call them self Creditor's Right Law, Firm,or do I send it to collection agency ? Do you think sending 2 settlement offer with couple month apart is to many ? Those any body had to deal or dealing with this RODENBURG LAW FIRM ? They have to addresses I think NORTH DAKOTA and MINNESOTA. Thanks for any respond.
Do you think I should send settlement offer again to this Office what the call them self Creditor's Right Law, Firm,or do I send it to collection agency ? Do you think sending 2 settlement offer with couple month apart is to many ? Those any body had to deal or dealing with this RODENBURG LAW FIRM ? They have to addresses I think NORTH DAKOTA and MINNESOTA. Thanks for any respond.
Do you think I should send settlement offer again to this Office what the call them self Creditor's Right Law, Firm,or do I send it to collection agency ? Do you think sending 2 settlement offer with couple month apart is to many ? Those any body had to deal or dealing with this RODENBURG LAW FIRM ? They have to addresses I think NORTH DAKOTA and MINNESOTA. Thanks for any respond.
Hi Samira - first off, don't give the CA your banking information. Second, since they didn't accept the initial PFD offer, you could attempt to take it up a notch (maybe 30-40% of the entire debt) even though those numbers still sound like an outside shot. (I don't think a second PFD letter will hurt anything.) And I would send the PFD to the CA since they bought the debt and are simply hoping to make a profit on it. Since you don't know what they bought it for, a PFD offer is a possibility but the price has to be right. Maybe try using our recommended template on your next PFD letter: Payment by Deletion Letter
Do you think I should send the settlement offer again to this Office what the call them self Creditor's Right Law, Firm who is collecting on behalf of the collection agency, or do I send it directly to collection agency itself ? Are you saying 40% off the original amount that was charged off, or 40% off the amount that the collection asking for with is about three- five thousand more than the original amount must be all the fess they added witch I think that a lot ? Thanks for the help
Since the CA seems to be ignoring you, send to the attorney working with them. How much did you offer initially? Do you mind telling us org debt vs balance today?
I offerd 30% but I did not say of what balance. well the balance that the collection saying now it about $18,000 and the balance with the original I think it was around 11,000 but I don't know how much it end up when it got charge off.I don't know if the charged any fess before the charge it off, witch even if they did it should not be 18,000 the collection charging a lot of fees it seem to me. What you think guys? withch balance I go off to offer the settlement offer ?
I would try offering a percentage of the original debt; just calculate the percentage of the original debt that you know you can pay off, and offer it as a PFD. It's an outside shot, but one worth taking nonetheless.
