What's better (or more likely too)? Having the CA agree to DELETE the TL from my reports upon payment. -OR- 2) Having the CA update as "Paid as agreed" and remove any negative marks. The later sounds harder to get... What do guys think. Since I'm new to this I don't even know if it's possible or what's more helpful. Thanks
Anything is possible... However before you even think about settling go the validation route, and force them to prove to you that the account is valid.
A collection is account is a negative whether it is paid as agreed. Go for deletion, and don't settle for less!
Assuming the CA is legally entitled to collect on the account, (within SOL, licensed for your State requirements, and with proper validation) and assuming they agree in writing to delete THEIR tradeline, it will still leave the OC entry, and the CA can still sell the balance to another CA who can reenter it on your report. This is especially true if you get an agreement in writing, signed by the CA and signed by you acknowledging the total balance and making a "settlement" for a lesser amount. In most States this would qualify a a "new" contract in writing,and would reset the SOL for the balance due in terms of legal action.It would not reset the "reporting" SOL, however, it would be VERY hard to prove that any NEW CA who has been sold the balance is actually in violation of the FCRA.
That is some interesting news. This particular one will be paid 100%. The OC does not have a tradeline on any reports. It's a collection for an apartment a few years back. In regards to other accounts I settle for less, could I mention in the agreement that any balance can not be sold or transfered to anyone else? Thanks again. I have learned so much and I have so much more to learn
Re: Re: Settlement Offer!!! Make sure you OPT OUT to prevent any of this stuff, and others you may not know of, cropping up on your report.
