I got a letter from the CA today. The letters have been going to my ex's house and then today, I got my letter. I sent my verification letter already - do I just wait to hear from the CA on the verification? Another question - what is best - paying the entire balance off or doing a settlement with the CA? I might be able to get the money to pay the entire balance off but if I can get a settlement amount for less, should I go after that? When I talked to the CA last Friday, he stating that it would be up to the OC as to what they wanted to put on my credit report as far as this account being paid. What I mean is, settlement paid in full, paid in full, etc. Can't the CA make the determination as to what my credit report states? Also, the CA stated that if I do a settlement, that they would not hire another collection agency to come after me for the balance. Another line of bull? Once this account gets taken care of and paid, I will go after my ex in small claims court for whatever I can. He is responsible for this mess - not me.
Only if they say, in WRITING, that they will delete it from your report. Yes, if the CA is reporting it to the CRA. Maybe, maybe not. Again, best to get it in writing. hope this helps. peace, delilah
1*I sent my verification letter already - 2*do I just wait to hear from the CA on the verification? 3* what is best - paying the entire balance off or doing a settlement with the CA? 4**the CA last Friday, he stating that it would be up to the OC as to what they wanted to put on my credit report as far as this account being paid settlement paid in full, paid in full, etc. 5*He is responsible for this mess - not me. Halo611 ===================== 1*Wrong letter =Send a Validation letter. 2*If you do you will be at least 200 years old by then. 3* Both are very bad verry very bad. 4*You don't want it listed any of these ways. They are all bad and will hose your credit and cost you big money later. 5*No you are because the agreement is between you and your creditor(s).The END ************************* LB 59
<< To my parents it was more important that the matter be settled and my balance be zeroed for this debt than it was to try to avoid getting a derog on the credit reports. it wasn't fully my choice ====================== Parents Don't always give the best advice or have the rite answers.
Sorry, I meant validation letter, not verification. Why is it bad to pay the entire balance off. Won't that make my credit report look better? I don't have a charge off on my credit report as of yet.
A paid collection is ALMOST as bad as an unpaid collection. Both will put your credit score in the toliet although a person can get a mortgage with a paid collection. First Validate, Then see where you are at.
As of right now, my credit report says nothing about it even being in collections. The last reported date on this credit card was 12/02. So does it still make a difference if I pay the account off in full? This is what I'm a little confused about. I already have a mortgage and a car loan. I got the mortgage before my ex-husband ruined the paying of this charge card. I just got my car last February.
