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Settlement to CA Questions


ElorraM
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I am sending a settlement letter to a CA. My question is, can I ask them to remove their negative lising from my credit report as well as the charge off from the original creditor? Do they have control over what the OC reports, or just what they report in this instance?

The CA is Arrow Fin, the OC is First Premier. Thanks.

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The CA has no authority to do anything, and they will more than likely refuse to delete the entry. They are governed by the OC - including any settlement agreement, or even how aggressively to pursue the collection.

Did you contact someone at the executive level at First Premier about a settlement? They would have the authority to enter into an agreement and recall the collection.

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They are governed by the OC - including any settlement agreement, or even how aggressively to pursue the collection.

I dont think that's exactly true. It is my understanding if the CA is reporting the listing, then they can remove it at their discretion. I did not think they could remove the OC listing, but I just wanted to make sure.

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Yes, they can remove their collection entry, but it is rare that they would agree to do so.

The rest of the statement is true - any settlement has to be approved by the OC, and CA's often ask the OC how aggressive they want the collection pursued. Which is why it's often better to deal directly with the OC - they can recall the collection and have the CA delete the entry since the CA works for the OC.

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