I got a letter from a collection agency saying that my creditor has agreed to take a lesser amount (one that I could probably afford)to satisfy my debt to them. I have recently retained Lexington Law to help me with my credit. It's still the first month and I don't think there are any changes yet. My question is, should I go ahead and pay the collection (getting a statement from them saying they will remove it from my credit report) or should I inform Lexington about it, and handle it through them? Any help is appreciated!
Although you're working with Lexington to have this item deleted, the original creditor can still have the item reinstated if the debt has not been paid. IF the outstanding balance can be settled for 60cents on the dollar, It may be worth your while to settle the debt now.
