We have a collection we need to pay ASAP in order to get our home loan. Since I don't have time to bargain for deletion or even verify the debt (it is only $150), what would be the second best course of action? Thanks!
You can still ask for deletion in exchange for payment. Dont let them know you are going for a mortgage
Hi Gabby, Had a hot little German gfriend named Gabby. Thanx for the visual. lol But I digress. These accounts are legitimate ONLY in the event that they CAN validate them. In other words a debt doesn't become illegitimate as of when the CA is unable to validate. It becomes illegitimate since INCEPTION. It is a bad debt from DAY ONE. A bad debt never should have existed in the first place. Here's why I'm saying this. Your desire to go for a mortgage provides EXTRA leverage for the CA to take payment in exchange for deletion, IF (and I mean IF) they can't validate, or don't want to. If you're willing to throw $150 at this and pay it off, I'd approach the CA like... "I'm going for a mortgage. If this debt prevents me from getting my mortgage I will sue you until your ears bleed, because I now have substantial damages." You'll want to talk to a Mgr. that can make the decision, and get it in writing first. It will require some telephone time and some patience but I think this is your best approach. BTW - You would want to hide the fact that you want a mortgage only when your trying to negotiate for less than full amount. In this case you're willingness to pay 100% makes it a moot issue. See where I'm going with this?
Thanks Butch. I completely understand what you are saying and it worked for me. The entry has disappeared from my credit reports. Woo Hoo!
Fantastic! Another approach, when this doesn't work, is to have the amount of the debt held in escrow so you can close, then go through the validation process.
