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Will Palisades do a pay for delete?


ellen79
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I have a collection from Palisades that I truly do owe. I want to pay it, but I want it deleted from my reports if I do. I don't have time to do a dv because I need to purchase a new car within the next 60 days, as my other car was stolen and totaled. This is the only unpaid negative that I have and the way they are reporting it has significantly lowered my score. The DOLA is 4/2001, but they are reporting the opened date as 11/04 and they are reporting it as 120 days past due as of 12/05. What is the fastest way to handle this account. I need this resolved immediately so that i'm not screwed on my interest rate on the new car. Thanks in advance for your help.

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Before I answer your actualy question I'm going to offer some advice you didn't ask for...you can ignor it or not as you see fit!

1. I would NEVER buy a brand new car unless you can write a check for it and have the purchase be about the sam equivalent as it would be for most of us to buy a happy meal.

2. I wouldn't buy any vehicle (nor or used) that I couldn't either pay cash for or at least, have fully paid for in 18-24 months.

That said,

I'd be very cautious about paying any debt to a CA that you haven't had properly validated...to do otherwise runs the risk of paying a debt to a CA that doesn't even have the legal authority to collect.

However, whether you go through the DV process at all or not, you have a powerful bargining chip in your corner since you have something they want very badly...your money. How willing they are to delete the derogotory info will depend on your bargining skills, how much you owe, how much you are willing to pay and how eager they are to get your money.

Even if they are willing to delete, it may be difficult to get done quickly - nothing happens instantly.

Bottom line is all things are possible and can be negotiated so I woudl go for it...you'll have to be stern and you'll have to make it clear that you will not budge on what you want and then see what they do.

Make sure you do document everything and if you talk with them by phone, follow-up with a letter sent CMRRR. Id they do agree you absolutely must get it in writing and signed by someone with the authority to make the agreement.

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