I'm about to send out a debt settlement letter. I have 2 questions. First, the original debt was under a different last name. It's already been deleted and re-inserted on my Equifax CR. Should I type the name under which they have the debt or should I type the one I'm using now. Second, the original debt was listed under a different address. Should I use THAT address on the letter or my current address. Okay...I have 3 questions. The 3rd being, since my name and address have changed, should I just attack Colletech with a validation letter? If I do so, wouldn't I be giving them my NEW information so they can bug me, IF they validate?
Well, as you may know, I advocate that one should never go for debt settlement. If you decide that is what you are bound and determined to do, then at least demand that you get a contract signed by them that in return for payment they will delete the listing from all credit bureaus within say 90 days or return the money you paid in full and cancel the debt. Demand that the agreement be signed and notarized by an officer of their company. If you can't get that, then don't pay them a crying dime. Don't take any phone calls from them either. Make your offer in writing and demand they contact you about the matter in writing. That way if they refuse to agree to your terms, you can at least have a crying chance in case they go to court and sue. If you don't get it in writing, you are very likely to come up complaining about how they took your money and won't take it off.
I got that Bill. I have my letter structured that they must send back my acknowledgment form as well as a letter on their company letterhead, agreeing to the terms set forth. It's not much ($145) but I'm definately not paying if I can't get full deletion (also noted in the letter).
Good! I wish you luck. I have one that's so small I might just do the same thing, but I'm not going to take the word, written or otherwise of some lying dog of a collection agency for it. The fool bill is about $50 and the SSI should have paid it and didn't. So the problem is that I might easily spend more than the $50 just trying to get it removed. But I'm so damned bullheaded that I'm likely to spend $100 bucks on a $50 bill just to prove my point, which is that I'm gonna get it deleted whether they like it or not.
I am also at that stage in my credit repair quest where I am considering sending out negotiation lstters to the CAs. I have credit card charge-offs from 97 that I can now afford to pay off. Thanks to a little research and this site, I realize how little I am helping my credit rating by just paying them off and not getting the negs deleted. What I would like to know is there anyone out there who has had success (or knows someone who has) getting negs permanently deleted in exchange for settlement of debt. Thanks
TC...you DO mean "paying them and having them deleted" right? It's of NO use to you to pay it without having it deleted. I mean, honestly, it's sitting on there now anyhow. As it ages, the impact to you is less and less.
Absolutely Shantel. If there is one thing I have learned about credit repair is don't pay a cent until I have recieved a signed written agreement that they will delete all negs and list as PAID/NEVER LATE/ CLOSED BY CONSUMER in exchange for settlement.
