I know all the posts regarding not dealing with collection agencies. My question, I have 3 cap one accounts in collection (I know.. Im working on cleaning up the old act). When I contact Cap1, they want nothing to do with me. They refer me to the (3) different collection agencies. I talked (argh!) to the first one and they were willing to settle for the orignal high credit limit amount ($500) the current balance with all the stupid fees is $1190. Can I do this with some type of letter linking it to removal of all negitive connotations on the credit report? I don't mind paying this money, I owe them that. Please advise! Thanks again for all the help I have already recieved from this forum! Brian
You want a "pay for deletion" agreement. There are some kicking around the 'net. If the rep trying to collect is desperate enough, you might get it signed. Promising to FedEx certified funds might get one signed and returned to you. You may have to hold out for a while, and risk the CA putting the case into suit, which they will threaten. www.creditinfocenter.com has a whole list of things that are less desirable than total deletion that you might want to accept, but "paid collection" is the least desirable one on the bottom rung of the ladder.
