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How would you handle this CRAPPY COLLECTION COMPANY? (Options inside)


Kreepin
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CA stated over the phone today that the debt (which falls off in a year and a half) will be updated as PAID and that it's my job to delete. She told me that I could be sued since they validated the debt (which they did)! I told her not so fast, as it's wayyy past the SOL. She hung up!8-)

Now, I'm contacting the manager by MAIL and offering to pay for delete. If they do, fine!

However, if they don't...should I just pay it anyway? It's only 79.00. I'm assuming it'll either:

-be updated as a paid collection and fall off eventually, OR

-be updated as paid and fall off if I dispute w/ the CRAs.

Here's my letter to the $8/hr manager, who holds my fate in his stubby little hands.

January 24, 2008

In Re: Account # 12345

Dear Mr. Scum Bag(I didn't really say that):

It has come to my attention through the credit bureaus that you claim I owe a debt to your agency. I can save us both some effort & time by settling the debt out.

Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it.

Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change that listing at any time as the source reporting the debt. While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have confirmed through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all.

My goal is to arrange a term acceptable to both us since this debt is extremely small. I will pay your company the amount of $79.00 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed to remove this account from all three of my credit bureau reports. You also agree to accept payment as being in full and to never transfer any possible balance to another entity.

If you concur with these terms please acknowledge with your signature and return it to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation.

Upon receipt of this signed acknowledgment, I will immediately mail you funds priority mail. This is not a renewed promise to pay but rather a restricted offer only. If no terms can be met, no new arrangements will be made and the offer will be void.

Name of Creditor: Junk Debt Buyer

Signature of company officer:

Date:

Sincerely,

MY NAME

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If I owed only $79.00 and the CA validated my account and hung up on me, I would turn around and pay the OC instead and not deal w/the CA. I would send a letter to the OC stating “Here is my payment, upon deposit of this check please remove all negative information off all CBs that you do business with and state paid in full”. It’s worth a shot.

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If I owed only $79.00 and the CA validated my account and hung up on me, I would turn around and pay the OC instead and not deal w/the CA. I would send a letter to the OC stating “Here is my payment, upon deposit of this check please remove all negative information off all CBs that you do business with and state paid in full”. It’s worth a shot.

Looks like the OC no longer owns the account so have no ability to report "Paid in Full" to anyone.

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you want them to remove the TL completely, nothing less.

Also, remind them that the SOL is up, so if they want to see ANY of your money, this is the only way they will.

I already sent the letter to the CA now. If I pay this thing, is there ANY advange to doing so whatsoever? In short, worst case scenerio...is a PAID COLLECTION worth anything to me a year and a half of it falling off?

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I already sent the letter to the CA now. If I pay this thing, is there ANY advange to doing so whatsoever? In short, worst case scenerio...is a PAID COLLECTION worth anything to me a year and a half of it falling off?

NO...a PAID COLLECTION does not help you at all. It is no better than an UNPAID COLLECTION.

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So what is the plan of paying this now? It will drop soon. Why are you talking to CA's? This something that you do not do. Over and over it is all over this site. Never talk to CA's on the phone, get it. Scottb99 is right how will this help you? Hello!!!!!

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That letter looks good, let them know you want to PFD and that the debt is outside of the SOL otherwise.

Be sure to ask them to send you back confirmation that you can forward to the credit reporting agency showing proof that said item much be deleted.

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