Jump to content

Agreements


Swix
 Share

Recommended Posts

Newbie question:

I've read a lot here about negotioating settlements and getting everything in writing.

If you have a bad debt and settle it and the OC or CA agrees to delete the account or report is as all good (no lates, charge-offs) and you get all this in writing. Do you have any legal recourse if they decide to report derogatory information because it was, in fact, true

Link to comment
Share on other sites

If that was part of the settlement from the OC, and it is in writing and signed by an authorized reprentative of the company, they have to abide by it as a contractual agreement.

Here's the key: It has to be signed by an authorized agent, someone who has the authority to enter into such an agreement with you. CA's do not have the authority to remove OC information. They can only remove their own collection entry. If the CA states they will remove the OC derrogatories, have them send you a written letter from the OC, signed by an authorized individual.

Remember, these people are trying to get you to settle your debt and will say anything to do it. Be aware out there.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.