salwia2003

Remove Settlement From Report by Paying Remainder in Full?

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Maybe! Generally only if your dealing with an OC. A JDB will only lie to you or at most put a paid in full or except a smaller settlement and sell off thebalance to another JDB for further collection. It's a crap shoot. Best to let it lie if its past SOL, it won't hurt your credit all that much unless your trying to buy a house.

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Hey, thanks for your reply!  I actually asked the wrong question...

 

What I really want to do is just pay it in full after I've already settled it (I don't need a removal from the report, just a "paid in full" instead of "settled").  I settled it in the past with a collector.... will the account still be with that collector after months or even years of being settled?  Or do I go back through the OC now that the collector has accepted the settlement?  Or does the collector still own the debt.  

 

Thanks =)

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@salwia2003

 

You have to determine if the collector owns the account.  If the OC is still reporting, check to see if the entry states that the account has been sold or transferred.  If it does, the OC no longer owns the account.

 

Also, a collector can work for a JDB. 

 

Whatever you decide to do, get every detail in writing and signed by an authorized rep of the company with whom you're settling.

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What benefit would you get by paying them more money to get a paid in full notation over a settled notation? It will still be a negative trade line... Who is the OC or JDB?

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