I need some advice. I have 1 open collection (med bill $100) open since 8/00. I have disputed with all 3 CRAs 3 times and it always comes back verified. Called and asked the collection Manager to take off derog. if paid in full and he gave me the bull about this being against the law, etc. He can only mark the reports as paid collection. Any other suggestions on how to remove? Thanks! Advice on this forum is great!
The collection manager is taking the "Law" out of context - He is maintaining that correct information cannot legally be removed per the FCRA. What he is counting on, is your lack of knowledge. The debt can most certainly be removed, and it is done hundreds of time per day if not more. The collection agency needs only send a letter of deletion or a Universal Data Form to the credit reporting agency. Another reason a collector will try to maintain this myth is that their agreement with the credit reporting agency usually states that they cannot delete an item in exchange for payment. You hold all the cards in this situation: #1 - The chance that they would try to sue you over $100.00 is somewhere between slim and none. #2 - They want their money, you have it. #3 - In many instances, medical collections are overlooked by most credit grantors, although not all. Two things you should do: Send them a validation letter - require they provide all the information (Sample in the Sample letters forum) before you agree to pay anything. Send it certified mail, return receipt. If you do decide to pay this REQUIRE it be totally deleted from your credit profile, and get it in writing before you pay it - if you pay them without an agreement you don't have a leg to stand on. A paid collection is no better than an unpaid one when it comes to your credit score. One tactic that I have used with some success is to counter the "It's illegal to delete this" excuse with "It's not illegal to fail to respond to a verification request from the Credit Reporting Agency," this tends to leave them without an excuse. Get them to put in writing that they agree not to verify the information if you dispute it with the credit reporting agency - then pay it and dispute it. If it can't be verified by the credit reporting agency it has to be removed.
