Hi all I have an old collection account I was trying to get settled. I wrote a letter to the collection agency stating that I would pay the balance in full if they would agree to remove the collection from my credit reports. This is the response I got: We are in receipt of your letter. We cannot remove collections from credit reports because that would be a violation of terms of our agreements with the credit reporting agencies. Is this right? Any suggestions on how I might proceed. It is a really small amount but I will be shopping for a mortgage in a few months and trying to clean up all my reports. Thanks in advance Deb
I would write back saying: I am in receipt of your letter. I can not pay the amount you have stated due because that would be a violation of my sanity. I have made an offer you have declined, cease and desist all contact with me. Bet they'd love that one! KHM
Standard stall/bluff letter.... plenty of examples here where people have been able to nego a payment in exchange for a deletion. If you want that, you have to contact the creditor and get ahold of a manager with the authority to nego a settlement. The yahoos who open the letters(respond with forms) and answers the telephones (and stall) have no power to nego. They can not deletion the information, but you better believe that their is a manager at every company who can. The trick is getting to talk with that person. Many people have nego PARTIAL payment for deletion... Depends upon how old the debt is, but I heard as low as 25% possible with 50% being common.
I can't remember the thread, but I remember reading a while back that equifax had sent a notice to some collection agencies telling them to stop removing valid accounts from reports. It *could* be true they have an agreement that states they shouldn't do this. I noticed the wording stated that "because that would be a violation of terms of our agreements with the credit reporting agencies" goes along those lines. We all know that the FCRA states things can be removed, so they covered themselves well with this wording. I'm not saying it CAN'T be done, but it may very well be difficult. I would do the validation letters and such and make them research it until they are sick of it. Good luck!
Whatever you decide to do, do it in writing. Calling and getting a "verbal agreement" is not a good choice when dealing w/ collection agencies. Write, return receipt, any communication you have w/ them.
Why not just force them to take it off or pay the consequences? If you force them to take it off or pay the consequences, they will like the consequences a whole lot less than they will like their contract. They can't afford to lose their contract and they can't afford to pay the price of not taking it off, so they will get it off one way or another, no matter what. They can do whatever they want. Don't fall for their lies. I dont ever give them a chance to tell me that B.S. in the first place and if one of them ever did, it would cost them a few hours in front of a judge and jury trying to explain why they broke the law. That's never their favorite subject in a courtroom. They don't even want to think about going there or wearing that dirty T-shirt. They will take it off if you make them do it. Never missed yet
I've come across this before. I simply called and stated: #1 Do you want payment on this account? #2 There is no requirement that you verify this account, should I dispute it with the agency. #3 If you would like to send me a written agreement stating you will take no action to verify the account, I will send payment once received. This has worked a few times for me - depends on the age of the account and how badly they want their money. They are much more likely to make agreements toward the end of the month as it is generally the cut off for calculating bonuses or commissions. Just a suggestion.
They may well have such an agreement between themselves but I am not a party to it so am not bound by it: As far as I'm concerned it will be done or they will never see the money! Another thing if he does owe the money That's all he owes,that and nothing else :!
