Just had an interesting thought. Im wondering if there is a market for a debtor friendly collection agency.. This company would work with debtors who have open collection accounts on their credit reports and have been unable to remove them through other metods. The (debtor friendly) collection agency would offer to buy the debt from the holder for an agreed upon price/discount and then delete the tradeline. This agency would be more of an agent for the debtor, than a collector, but with the "powers" of a collection agency to delete the tradeline in question. I imagine there is a big gaping hole in my theory. Thoughts?
Its a good idea, but the CRA's force CA's into contracts. One of the provisions is no pay for deletes.
Re: Re: debtor friendly collection agency? I'm guessing that there are quite a few who would be more than happy to pay (at least some portion) for an easy, no-hassle deletion. Interesting note about CRAs and their contracts . . . in California the CCCRAA specifically states that nothing in this provision shall require that a delinquency must be reported to a credit reporting agency --and-- it specifically states that any clauses in contracts which prohibit any action required by this title are not in the public interest and shall be considered unenforceable.
Re: Re: debtor friendly collection agency? I just read that FICO has made changes so that CCCS dont trash your credit scores.
Re: Re: debtor friendly collection agency? Why would you make a blanket statement like this? This is what stirs up morality debate. Personally I think you should pay any debt you know is legit, I just don't think you should suffer the same credit hell for paying it than you would if you didn't. Gib
