kjundad18 Posted April 2, 2008 Report Share Posted April 2, 2008 I am trying to have a TL removed with a PFD. I got a verbal agreement but then when I sent a letter so I could have it in writing I got a fax back striking the statement out about the TL deletion... This is the letter I sent and his response....I just received your fax concerning the Agreement to Compromise Debt. I see that you struck out the portion agreeing to "DELETE ANY ENTRIES SHOWING THIS ACCOUNT AS EVER BEING LATE." This will not work for me or my situation. Once I found out about the debt I contacted your office in my town on two (2) occasions by phone and sent two (2) letters to them to no avail. I would like to resolve this situation in a manner beneficial to both of us. By you reporting this account, which you are NOT required to by lawto do, it does not benefit your company. I would ask again that you reconsider the deletion of this account upon payment of $xxx.xx.Thank You,kjundad18Dear kjundad18:I regret that you are unwilling to settle your obligation on the very reasonable terms that we have offered. Regarding your objection to our striking the portion of the proposal that would have required us to falsely furnish the status of your obligation to the credit reporting agencies, you are correct that we were not legally required to furnish data regarding our borrowers to the credit reporting agencies, however, having elected to participate in the credit reporting system, we are legally required to furnish true and accurate data. To do otherwise would compromise the integrity of the credit reporting system and cause harm not only to other users of the system but also to those borrowers who have actually earned the good reports contained in their credit files. This we will not do.We again invite you to settle your obligation on the reasonable terms that we have offered and we look forward to hearing from you in that regard. Yours very truly, Pain in my A$$Any help would be greatly appreciated. I am able and willing to pay this in full for delete but not for a paid collection. It will still be on my report for 3 more years as it stands now. Link to comment Share on other sites More sharing options...
Debt Guy Posted April 2, 2008 Report Share Posted April 2, 2008 Sorry. You cannot make the CA do something they don't want to do.You were wise to get your deal in writing. At least now you know what you are dealing with.Paying/settling the debt will remove your risk of litigation. It will not help your credit score. Link to comment Share on other sites More sharing options...
lovebug5 Posted April 2, 2008 Report Share Posted April 2, 2008 IMHO, you're stuck between a rock and a hard place here. The CA is not required, by law, to remove the TL once you have paid. You know that and they obviously know that. They're playing hardball with you and are refusing to remove it, even if you pay it. They are required to update the account as "paid", which it appears as though they're more than willing to do.You've got two options - either settle your account without the deletion and accepting the "paid" status, or figure out another way to get them to remove the TL. I think you'd have a pretty hard time being successful with the latter option at this point, since you've already opened up the door of communication with them and now they know you've got the cash to pay the debt. Link to comment Share on other sites More sharing options...
sparky256DSL Posted April 2, 2008 Report Share Posted April 2, 2008 Why are you asking them to remove data indicating "the account has ever been late"? Not knowing the whole story, you are still working with the OC and that is a good thing. Maybe try a complete delete for payment or if it is a CC why not just pay on it and turn it into a good TL? Link to comment Share on other sites More sharing options...
LeslieR Posted April 3, 2008 Report Share Posted April 3, 2008 And remind them that they aren't legally required to write in brief, concise sentences, either. But that avoiding run-on sentences is nice. Sorry, couldn't resist. Link to comment Share on other sites More sharing options...
Bigwoodystyl Posted April 3, 2008 Report Share Posted April 3, 2008 And remind them that they aren't legally required to write in brief, concise sentences, either. But that avoiding run-on sentences is nice. Sorry, couldn't resist.LOLTo the OP: some of these company policies are written in stone and have been in place since the very beginning of CRA reporting.Knowing that, IMHO, it's unlikely the person you are corresponding with has any personal discretion to update the reporting. You will have to find a way to access someone who can and will change this reporting.. How will you do this? Good question. Link to comment Share on other sites More sharing options...
tmuriuki Posted April 9, 2008 Report Share Posted April 9, 2008 HI,I am new in this forum. I have sent two letters to cap one and Applied bank using the OC investigation letter in the website. Applied Bank wrote to me and told me that they will not delete anything and if I need a history of my payments, I should pay them 3 dollars per statement. Capital one has not replied and 30 days have elapsed. Your advice on these two situations will be appreciated. What should I do next? Link to comment Share on other sites More sharing options...
Shae Posted April 9, 2008 Report Share Posted April 9, 2008 HI,I am new in this forum. I have sent two letters to cap one and Applied bank using the OC investigation letter in the website. Applied Bank wrote to me and told me that they will not delete anything and if I need a history of my payments, I should pay them 3 dollars per statement. Capital one has not replied and 30 days have elapsed. Your advice on these two situations will be appreciated. What should I do next?I would post this in a new thread so that it can get the attention you want it to get. Link to comment Share on other sites More sharing options...
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