Re: Re: Re: Settlement advice It simply is not correct to insist that a TL from a CA can be rendered "positive". As delilah points out the mere fact that it's from a CA is, in and of itself, negative. Suppose I had a remark from a proctologist. Would it do me any good to tell the reader I didn't have trouble with my butt? I'm not so sure it would even help your score to pay an old CA TL, because now it brings the activity to a more recent status. RECENT activity with a CA can destroy your score. After ADiliegro posted his answer Timmy clarified by stating that only the OC is reporting. If you can get the TL to state "paid as agreed" from an OC then yes, it turns positive. Timmy, how much is this for originally and what's the settlement amt.?
Re: Re: Re: Re: Settlement advice 1*If anything get it in writing that they will list it as Paid as Agreed 2*It needs to read paid as agreed. ADiliegro 3*I call bullshi*. 4*If it is paid as agreed, then it will be R1 or I1. Tell me R1 or I1 wont HELP a score and turn it into a positive. ADiliegro ====================== There are some things here that you are failing to understand. A CA showing on your report can never be a positive. 1*YOU DON'T want this.A CA cannot list an account as paid as agreed. If The account had been paid as agreed then the CA would never have had the account. The mere fact that the CA has the account shows all who see the report that it's a collection and wasn't paid as agreed no matter what the CA says or how they report it. 2*No No No: Get it deleted off reports. 3*What is it that you're calling BS? Not sure I follow you on this one! 4*SEE #1.for why it won't help and won't convert it to a positive.Like I said above CAs don't handle or own positive accounts. The END ************************* LB 59
Re: Re: Re: Re: Settlement advice But hasn't Timmy said that the CA isn't reporting? Just Amex? I understand that a TL from a CA will never be a positive, no matter what. But so far, it's not there at all so if I'm in the same spot, I'm going to try to keep them from reporting at all, right? Maybe I'm reading Timmy's post wrong - but I though he was saying that so far, there's only Amex reporting the account as a collection. Not good - but not as damaging as both the OC & CA reporting right? Again, maybe I'm just reading it wrong...
Re: Re: Re: Re: Re: Settlement advice But hasn't Timmy said that the CA isn't reporting? TeeBee ================= Yes but he also said this:. I Asked the CA how it would be reported and she said as a settled account. timmyq Now Ya got em both reporting it. The END ************************* LB 59
Re: Re: Re: Re: Re: Settlement advice Ohhhhhhhhh, okay. Once you established that the CA could indeed change what was being reported on the Amex TL, I then thought we were referring to him asking the CA how the Amex TL would be reported, not the CA TL, since the the CA was not yet reporting... confusion... =)
Questions for timmyq Questions for timmyq First Step: Has the CA validated? DID THE OC SELL OR ASSIGN THE ACCOUNT? How much is the Debt? What was the offer for? Need these answered if you want the best suggestions The END ************************* LB 59
Re: Re: Re: Re: Re: Re: Settlement advice IF the Ca owns the account who do you think would report activity on it?
Re: Re: Re: Re: Re: Re: Settlement advice That was a part that was unclear to me. Is the CA NOW going to report it as a settled account, or once they report the outcome to Amex THEY will report it as settled?
If the CA doesn't have a TL isn't it still Amex reporting? I know I'm a newbie with VERY limited knowlege, but my attorney who does colletion work for Amex said Amex's policy is to not remove the TL in a settlement. Either way I'm happy with my decision to settle, but I would like to know if anyody has had better luck in an Amex settlement... not that I ever intend to be in that position again!
Re: Re: Re: Re: Re: Re: Re: Settlem I think that's where I was coming from, too. When he asked the CA how the account would be reported, did the CA's response refer to their own TL (not yet reporting) or Amex's TL? Did the person he spoke w/ at the CA even know that their account was not reportiing?
Re: Re: Re: Re: Re: Re: Re: Settlem Current amount is 5800 and settlement offer was 3200. I think this is a pretty good deal for me in my current situation and I most likely will pay off the remaining balance at some point simply to get off Amex's black list. I haven't asked any of the CA's to validate since I feel that I need to do something to satisfy this debt since it was my own sheer stupidity which caused it to go into collection status. So, as it is right now, only Amex is reporting the account. Do people here think that if I send the money to the CA that they will begin to report it as well? I suppose I should type up a good letter to send them stating how I want the account to report after settlement. The worst they can do is refuse. It would be nice to simply have this off my back for a while. I know my credit will be screwed for a while but it already is and I'm not planning on needing new credit for a couple years or so.
Re: Re: Re: Re: Re: Re: Re: Settlem 1*If the CA doesn't have a TL isn't it still Amex reporting? 2*but my attorney who does collection work for AMEX said Amex's policy is to not remove the TL in a settlement. Beenaflake =========== 1*If A ca is collecting they have the TL. 2*Why are you using an attorney who's partial to the opposition? The END ************************* LB 59
Re: Re: Re: Re: Re: Re: Re: Settlem If the CA has the TL why aren't they reporting it? Anyone had an experience similar to this one?
Re: Re: Re: Re: Re: Re: Re: Re: Settlem That could change anytime;hince one of the reasons for validating. Questions for timmyq First Step: Has the CA validated? DID THE OC SELL OR ASSIGN THE ACCOUNT? Need these answered if you want the best suggestions The END ************************* LB 59 PS:If I had the answers to these Questions it sure might help in making suggestions to you!
Re: Re: Re: Re: Re: Re: Re: Re: Settlem I haven't asked the CA to validate as I am planning on paying this debt one way or the other. I've also heard that Amex is sue happy and I don't want to stir the pot too much. I don't know for sure whether the OC has sold the account, but my gut feeling is that they have assigned it. It has bounced around from agency to agency so I believe they still own it. I have not received any information which would imply that it has been sold. OC still reports it as "Collection Account" 120 days past due.
Re: Re: Re: Re: Re: Re: Re: Re: Settlem Attorney is a collection attorney who is a friend! I told him what was going on and he handled court docs anonomously! Jim
: Settlement 1*Current amount is 5800 and settlement offer was 3200. 2*I most likely will pay off the remaining balance at some point simply to get off Amex's black list. 3*I haven't asked any of the CA's to validate since I feel that I need to do something to satisfy this debt since it was my own sheer stupidity which caused it to go into collection status. 4*Do people here think that if I send the money to the CA that they will begin to report it as well? 5*I know my credit will be screwed for a while but it already is and I'm not planning on needing new credit for a couple years or so. timmyq ===================== 1*AMEX may not be getting 1 cent of the $3200 2*IF AMEX don't get any of the money how will that get you off their black list? 3*This is not really a good reason not to validate. Also why handle this in a manner that may result in more longer lasting damage to your credit? 4* Might well be the case. 5* not planning on needing new credit for a couple years or so may be just a secondary concern. The END ************************* LB 59
