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Hi A little new so bare with me.


REspinosa
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So first off really quick. Im working on two collections. The cable company has not contacted me over the debt and the apartment complex has. And by complex I mean collection agency. It is a requirement of my job postion now to make some sort of attempt at paying my debt. The first one is to a cable company for 185 dollars and the next one is to an old apartment complex for when I moved out for 285 dollar. Both have been sold to collection agencys.

The cable one to Credit Bureau of Placer county and the other to G.O.N.E-Get out now eviction. Well my question is I have never contacted them at all so to open up a line of communication I simply sent them a cover letter stating I wished to pay my bill for what I considered a fair amount and did not even know if the debt was mine but wished to clear it up for a reasonable amount. With that I was going to try the pay for delete method so used the sample letter filled out along with my cover letter at a 20% offer of the debt. Was this an ok play to open up lines of communication?

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I don't see any problems with what you sent. If they are really sold they probably are not going to settle that low, right off the bat. Just keep using the letters with the language of I am admitting nothing but want this behind me.

The problem I see is that a pay for delete can be done but it, but generally speaking violates the agreement the junk debt buyer has with the credit reporting agency. For that reason they don't like doing them.

The fact your debt is so small, you're asking them to do a lot of work for very little reward. Basically you're asking them to do all this for less than a hundred bucks. It does not sound like a lot, but they will have to work out an agreement (contract), pay somebody to draw it up and run it by legal for sure, contact the credit reporting agency (time they could be on the phone violating the FDCPA), spend time with you going back and forth, for basically nothing.

Really it would be better for them to sit on the debt for a few years, sue you and then collect prejudgement interest.

If you need the report cleaned up for work, I bet a paid collection will suffice.

I in no way am advocating you pay a junk debt buyer. In fact, the thought makes me puke. However, every persons situation is different and it appears you're somewhat being painted into a corner, by your employer, to get this cleared up.

Good Luck !!

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Well is there any suggestions you would make if there is a better way to go about this? I don't really need it removed from my credit history. I know it would help my credit score but if it would help me get my debt settled at a lower rate would it be best to try to negotiate it to just paid rather then removed? Or is it the twenty percent that is to low?

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Now they will deal with you if you don't demand it being removed from your report.

Twenty percent will still be about 35 to 40 times what they probably paid for the debt, but they usually don't settle that low without some back and forth or until you get your own leverage.

You could dispute it with the CRA and they might not be able to verify the debt and then by law it would have to be removed.

They will probably start at 70% and go down to 40% after a few months.

I'm probably not the best to ask about paying a junk debt buyer. If I won the power ball this weekend, I'd pay every creditor I have except a junk debt buyer. I'd video me setting the money they said I owed them on fire and send them a copy of the tape.

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Well thank you for your advice coltfan. Im just unsure as what to do at this point. I don't have to get it cleared up right away. But have to show proof that Im making some sort of effort to clear it up. Do you know of any sample letters I could pull just requesting to pay a stipulated amount without it being removed from my report or do I just have to draw one up myself?

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You do it just like you did your first letter, you would just not include the pay for delete. I'd still dispute with the CRA, you might get lucky.

Also, I just told you what usually happens. I'm not saying you could not pull it off.

Dispute in your letters to them, but keep in mind settlement talks can't be used against you if they do sue, so you don't have to throw in a ton of disclaimers when writing to them.

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