Sending in Final Payment-Should I request a Final Statement?(Answered) I'm down to the last payment to a collector for an overdue student tuition account. Should I ask them for anything special as a condition of the last payment?
You should definitely at least get a final statement showing that payment has been made in full. What kind of agreement did you reach regarding how this would continue to show on your credit reports?
We never reached an agreement. They sent me an invoice for the balance due and I just started paying it. This was back before I knew about DV's, negotiating for Paid in Full, etc. In addition, I have a hard time calling to the United States as I'm currently living in Asia. Due to the time difference, their office is usually closed when I'm awake, and I'm asleep when they try to contact me by phone.
Well, it's a bit late now to try and negotiate anything regarding your credit scores. I doubt holding out on the final payment is going to get you anywhere. You may just want to think about getting this collection paid off completely and then waiting awhile before disputing something that's inaccurate about it through the CRAs. You might end up getting it deleted from your credit reports that way. Regardless, you should still get a final statement from the Ca that shows the debt has been paid in full.
That's what I thought. I sent a "final payment letter" to them along with the check. The letter says that cashing the check signals they agree the account is paid in full, and that they should send me an account statement showing the account is paid in full in addition to notifying the credit bureaus. We'll see how that plays out.
