I have been in written correspondence with an OC recently regarding a C/O account that was mine. The OC never sent this to a CA for whatever reason. We have now come to the point we are negotiating a settlement but I am having some difficulty getting them agree to all the "favorable" terms. Specifically, we have agreed on a dollar amount and the fact that the remainder will not be sold or assigned, etc... However, I can not get them to agree to delete the TL or report it as a + TL. I received a letter today stating that they are REQUIRED to: A) report account to credit bureau as "settled as agreed" B) Issue a 1099 for any amount over $600 loss on their accounts. Any suggestions on getting them to budge on this?
Sorry to answer your question with another question but hopefully one of the experts can answer both. Could you just pay them the amount agreed upon and make sure the back of the check or money order you send has the westcap endorsement? That way if they cash the check they are forced to either report as paid as agreed or delete the tradeline. If not you could sue. Any experts opinions are greatly appreciated. PS. I wouldn't have them report it as "settled as agreed". I would ask for "paid as agreed".
