Offerd a deal by a CA

Get any deal you make with them in writing before sending any money.
As far as a FICO score goes, a paid collection is just as negative as an unpaid collection so marking it paid is not exactly doing you any favors. Getting it deleted (i.e. having them promise not to verify it) is the only way it'll not count as a gigantic negative.

The trick to getting it removed is to have them promise (in writing) not to ever verify it in the future. They can't remove it, but they can "not verify" it if you dispute it later. If they don't verify it, the CRA will remove it.

 

Her lips were moving when she said this? Then she is lieing. Pay for deletes are getting harder and harder to come by, but how long a tradeline is on a report has nothing to do with their ability - only their willingness to remove it. I believe consumers are leaning towards what ccbob suggests as a workaround.

Well if they accepted 75% as full payment too (which you would get in writing), they would have to mark it paid and closed as well. She was just trying to squeeze.

 

I thought the same thing. I would look into why she said that.

 

Regardless of whether you pay 75% or 80%, if she the CA accepts your payment as settlement of the debt, they are required to mark it Paid/Closed on the tradeline. Paid/Closed collection accounts are only slightly more positive than unpaid ones. Don't accept her offer.

She's lying. Items can be removed from a credit report at any time. The only affect your account being 4-5 years old has, is that the CA knows you're approaching the time limit for that account to be reported on your credit files, thus making them more eager to collect while you still have an incentive to pay.

What state are you in? You might want to check the Statute of Limitations (SOL) on the collection of a debt in your state, and make sure they haven't exceeded the SOL. If they have, you can rest assured that they won't be successful in suing you for the balance on the account.


This tactic has worked for me in the past:

Send a letter, in writing, explaining that you have X amount of money set aside to pay outstanding debts, and that you have more than one creditor to satisfy. Tell them you would like nothing more than to pay them off, but you have other creditors who are willing to delete tradelines and/or remove all derogatory information from your credit report in exchange for payment, and you feel it is in your best interest to give those creditors priority, as your credit score will undoubtedly improve as a result of their gracious compromises. Let them know that you are aware that ANY account reported by a collection agency is, in and of itself, derogatory, and that unfortunately, the only positive outcome for you regarding their tradeline would be a complete and total deletion. If you'd like to offer 80% in exchange for deletion, that might make her budge.

Just remember - this is all a negotiating game. Talk to them in terms of their bottom line. If they think they can squeeze money out of you without any additional work on their part, they will. If you make it clear that you will only deal with creditors who choose to work with you on the tradelines, the CA will probably bend to your will.