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10 cents on the dollar?


pinkeysas
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I have 3 collections listed on my CR's. None of these CA have been contacting me, i only just found out about them by pulling my reports. I do know that these debts are within the SOL but more than 2 years old and that they are mine and have in fact been sold off from the OC to these CA's. Should i send them a DV letter, or skip that and send them a letter offering them 10 cents on the dollar for the balances shown owed?

Balances for each are:

Collection Agency #1: $300 so offer $30???

Collection Agency #2: $300 so offer $30???

Collection Agency #3: $150 so offer $15???

Do you think that they will really accept those amounts as payments in full??

Also, I know that the best thing is to request that the accounts are deleted from all 3 Credit Reporting Agencies once paid. How to I demand that they do that? What is the proper way to word that?

Thanks for your time.

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good luck I have paid on debts that are still on my CR and if you pay that you start the sol over again on top of that.. they will not be paid in full but marked as settled which can also hurt your credit..

you do what you need to but you might want to consider leaving it alone and letting it fall off in due time.. otherwise you can add years to this situation

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good luck I have paid on debts that are still on my CR and if you pay that you start the sol over again on top of that.. they will not be paid in full but marked as settled which can also hurt your credit..

you do what you need to but you might want to consider leaving it alone and letting it fall off in due time.. otherwise you can add years to this situation

I agree wholeheartedly. I have had NO luck getting a creditor to accept less than what is owed, not even when the debt is 5-6 yrs old with a ton of interest added!!!! They certainly wouldn't agree to accept less than the full amount AND drop it from my CR's!! A consumer can't even pay what they owe and improve their situation, sad. I have decided to "ignore" debts at the 5+ yr range...:rolleyes: they can bite me.

Elyse

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I agree wholeheartedly. I have had NO luck getting a creditor to accept less than what is owed, not even when the debt is 5-6 yrs old with a ton of interest added!!!! They certainly wouldn't agree to accept less than the full amount AND drop it from my CR's!! A consumer can't even pay what they owe and improve their situation, sad. I have decided to "ignore" debts at the 5+ yr range...:rolleyes: they can bite me.

Elyse

I am with you on that.. in this case its better to let it go and drop off... you open a can of worms that can haunt you for more years by TRYING to do the right thing in many cases

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on my credit report. If an account is listed with a collection agency. Where it says "OPENED" is that when the account was opened with the CA or with the OC? And "LAST ACTIVE" wouldn't that mean the last time i payed anything on it?

I am asking because one of the items on me CR is listed with a collection agency and the "OPENED" date is not a date that i would have opened this particular account. So if I am holding out for something to be deleted from my record what date should i go from?

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you go by DOLA.. that is not always the same as last payment.... the date opened is the date the OC or CA got it.. that can change but will not affect your drop off date..

for example I had a CC my last charge was july of 2002, which is my date of last activity... however if I paid on it until Sept of 03.. thats date of last payment.. for your drop off look at date of last activity.. that is never supposed to change and if you find someone did change it .. start disputing that is NOT legal

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o.k. so 2 of the items on my CR have last active dates that are dates that i know i didn't make any payments or contacts with the oc or ca on. I did not even remember these debts until i pulled my report a few months ago. So should i send them a DV letter adding in the letter that the last active dates they are reporting are wrong?

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I am not a big fan of kicking sleeping dogs... your DOLA may have nothing to do with your last payment... but Dving and contacting them may open the door for a slew of collection activities.. from phone calls to a lawsuit depending on how old the debt is and who the company is..

these dates could have been when you made a charge last or a number of things.. its your call but if it were me and you have not heard from them.. I would leave it alone...

IF you are out of SOL I would dispute it with the credit bureau.. trying to get a CA to change anything on a credit report is like spitting in the wind I have had better luck with the CRA

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