I have a few CA items that are just at 2 years old? I want to pay. It is my thinking to make a settlement offer and pay the OC and send a C&D letter to the CAs for removal and send them proof that it is paid to the OC? Is this the right way to go? I have got to get this done by November!!! HHHHEEELLLLPPP!!!
No. It is the wrong way. If you pay the original creditor, the CA will not delete the entry. It will stay on for at least five more years, possibly seven, and continue to screw up your credit. I learned the hard way. You must get an agreement from the collection agency to delete all negative enties in return for payment. It must be in writing because they will lie to you. They will promise deletion but will not follow through if it is only oral. Then, they will deny they ever said it. DO NOT AGREE UNLESS IT IS IN WRITING. And, it must specify all negative information. They will probably tell you it is illegal to delete the negative info. Don't accept that. Most of them will delete in return for payment. It's just that they are lazy and don't want to go to the trouble. When you get the promise to delete in writing, you must then send it to all three CRA's and request a deletion. My experience is that the CA will not. If you do not do it, it will not get done. I can absolutely guarantee you they will lie to you. Don't accept anything they say unless it is in writing. This is my opinion. Some people here will argue you should never pay. I will let them make their case. Some will argue that you should only deal with the original creditor, never the CA. They can make their argument. I think we all will agree that you can never trust a collection agency. I think we also will agree that what you have suggested is wrong. I am sure many more will offer their opinions, so wait until they make their case. Then, if you have any problems, post again. It will take longer than you think so get going.
I would not pay the CA. Send them a C&D letter. Send a copy of that letter to the original creditor with an offer of xx% settlement with written guarantee of deletion. Do not send the letter to the original creditor "To Whom It May Concern:". Get on the telephone and find out the name of a manager who has the authority to nego a settlement. Tell both that you will only work with the original creditor to settle the situation.
