Way i did it, may want to try

[madcrapper]

I set out about 8 months ago to pay back about 15k of past collections and charge-offs. I did this before finding this board unfortunately. However, I did try this: Called settled the account for about 65% then waited one month and sent a good-will letter, stating that I had agreed to pay a partial payment by mistake and that was not acceptable to my mortgager. Thus, I asked if I paid the remaining balance of $xxxx.xx would they remove the trade line from my reports. I threw in some other niceties and sure enough after paying they were deleted. This worked with AAC, MAF, ALLTELL and Credigy. Credit One removed after full payment regardless. I started with the intention of paying everything but this way seemed to help in getting them removed. After all I owed this debt regardless... May want to give it a try. BTW each responded similar to: Thank you for your letter and after review we believe we will be able to accept the remaining balance of xxx.xx to remove the trade line.

I had also stated that by them removing the line it would not help me out substantially because the original creditor still reported the initial CO. This was included for all but ALLTELL. I later got the 3 of the 4 initial COs removed as well by disputes with no reponces from the creditor.

[creditdodger]

So basically you got a pay for delete by paying the entire balance?

[divemedic]

and if they were CA's, you could have gotten them off by paying a fraction of what you did, perhaps even nothing, especially if these debts were past SOL.

[divemedic]

Especially considering that you paid without a written agreement. Many CA's will shaft you there

[madcrapper]

There responce was the written agreement of deletion by payment. And after all I OWED this debt, if I didnt pay who was the one to really be shafted. All im saying is if you want to pay back your past obilgations and have it removed from your credit report this worked for me. If you want to screw over your past creditors then go another way. Sorry but I feel a little bit of moral obligation to what happened in the past and by paying I satisfied those obligations and helped my credit at the same time.

[DocDon]

But it's o.k. for creditors to jack your rates to almost 30%, fees upwards of $39 a pop you may end up paying three, four (or more) times the actual amount of the item purchased.... the mafia used to do that on the street - the practice remains, but it's now done in big buildings under corporate names and publicly traded stocks.

Moral?... no offense (I understand what you're saying), but your thinking is a credit card issuer's wet dream. There can't be a moral obligation to an industry that has no morals. They're thanking you for your morals as they bleed another victim....

IMHO, of course.

Glad it worked for you though.

[divemedic]

The funny thing is, you didn't pay the person you owed. You payed a JDB. The person you owed? They got anywhere from 5-10% of what you owed them when they SOLD the debt to the JDB. Then, they get about 20% from the government in tax credit when they write off the debt.

Whether you like it or not, you screwed them anyway. Then you rewarded the illegal tactics of JDB's by giving them a 2000% profit. You got screwed, the creditor got screwed, the tax payer got screwed. The JDB gets rich.

Congratulate yourself if you wish. If patting yourself on the back when you were taken advantage of helps you sleep at night, more power to you. But don't try to sound morally superior while you are doing it.

[madcrapper]

Well you know what, I paid my debt I didnt wessle out of it and if it didnt go to the right person I did all I could, I got it removed and although the word selection of moral may not be the best choice, yes I do sleep a little better, I paid my past debt. And my credit is repaired. Thats why the post is titled "The way I did It", if your way is better then so be it. If you have a little cash left over in your pocket and that makes you feel all warm and fuzzy then fine. Im clear and good to go, all done. The means are the same, unless you want to grovel over a little green. I am by no means saying my way is the best way, it worked for me and thats really all I care about. And as far as a corrupt industry then fine so be it. If its allowed under federal law and you dont agree, go live somewere else. I myself wouldn't mind.

[DocDon]

And as far as a corrupt industry then fine so be it. If its allowed under federal law and you dont agree, go live somewere else. I myself wouldn't mind.

Some place warm would be nice.

That wasn't my point, and "go live somewhere else" is not quite the correct response. Just because it's allowed under Federal Law, doesn't make it right. These laws are written by the very people who are getting their pockets lined by these companies. That's a different debate, and not at all my point.

My point is that we have to learn the rules and find a way to beat them at their own game. This doesn't involve "weasling" out of your financial responsibilities. I'm talking about the credit card trap in general. How not to allow a 29% APR to get the better of you so you end up dealing with a charge off and a JDB....

Your route would not be the one chosen by many, but it worked for you. I won't knock that.

[divemedic]

If its allowed under federal law and you dont agree, go live somewere else.

There you go. So how dare you say that we are screwing creditors out of money? You have no business judging me.

Your own words.

If its allowed under federal law and you dont agree, go live somewere else.

I like the sound of that. Guess what- your creditors still didn't get paid. I kept more of my hard earned money AND cleared my credit. And my creditors got paid the same amount as yours did.

[Northern Lights]

We understand what you have done, and this forum is to express your methods and to learn how to clear up your credit reports.

Your method worked for you, and may also work for others if they want to go that route, and who may have extra cash on hand to settle for deletions.

You can now live with yourself with the burden off your mind, but a little less money in your wallet/pocket book. I also understand you found this forum after you starting paying for deletions, and the other posters are just trying to tell you there are other methods to use to try and save you money.

Whatever the reason you got negative information removed and that's all that counts.

[mike111]

Well you know what, I paid my debt I didnt wessle out of it and if it didnt go to the right person I did all I could, I got it removed and although the word selection of moral may not be the best choice, yes I do sleep a little better, I paid my past debt. And my credit is repaired. Thats why the post is titled "The way I did It", if your way is better then so be it. If you have a little cash left over in your pocket and that makes you feel all warm and fuzzy then fine. Im clear and good to go, all done. The means are the same, unless you want to grovel over a little green. I am by no means saying my way is the best way, it worked for me and thats really all I care about. And as far as a corrupt industry then fine so be it. If its allowed under federal law and you dont agree, go live somewere else. I myself wouldn't mind.

if you are so morally superior, why don't you call up the CA again and request them to put the collection tradeline back but showing paid infull in the credit report so you can sleep even better knowing you did the right thing.

[wunderwoman]

All arguments aside, I do think that this method is a good method to use for someone who has "already settled an account" and then discovered these boards.

For those who found these boards after settling and think it's too late, this offers them hope. A way to get the tradeline deleted if disputing and debt validation don't work.

To each his own.

[Trying*Hard]

Reading madcrapper's post, I didn't get the feeling that he was being morally superior, like it was said morally may have been the wrong word to use, but they are new to this forum, lets try to be a little more helpful, instead of knocking people down when they are trying to offer advice that helped them and may help people in the future. This forum has changed alot in the last 2 years, people used to be friendly and very helpful, sometimes I'm even scared to post because someone may take what I type out of context. You really don't have to post a reply to every post, some post I don't agree with I just go on to the next post.

To Madcrapper, thanks for the post, may come in helpful one day, also want to say this is a GREAT forum and DocDon is very helpful, stick with it don't let a few comments from the others steer you away.

[DocDon]

This forum has changed alot in the last 2 years, people used to be friendly and very helpful, sometimes I'm even scared to post because someone may take what I type out of context.

[mike111]

As you see, I have been a serial-poster for the last two days, don't take anything I say too seriously