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Posted: Tue Sep 25, 2007 3:57 pm Subject: Four collections ... how to proceed?

I have four collections ranging from $67-338 that I would like to pay off to clear up my credit reports, total about $775. I have spoken to the collection agencies on my credit reports, and each has denied payment in return for deleting the file. The dates of collections range from 2003 to 2007. I have just finished paying off a tax lien, and am able to pay the full amounts, if necessary.

What is my next logical step? Should I call back the companies and ask for supervisors? Should I mail sample letters requesting the pay for deletion?

Some people at work have used pay services to do most of this, but their fees add up to two of my account's alances just to start and first month fee, then add on per month. I would rather do it myself, if possible.

Thanks in advance,

Jeff

Posted: Tue Sep 25, 2007 4:00 pm Subject:

I would take a shot at doing it yourself first.

There are some sample letters in the Do it Yourself section here that may be of use to you. I would mail them letters with your proposal, and see if you get a response. You would want to have the response in writing. That way if they don't delete the item you have proof that they had agreed to do so when they recieved payment.

Posted: Mon Oct 01, 2007 10:02 am Subject:

Amazingly, after contacting the companies, I have received a notice to collect debt letter from one of them. Something about no good deed going unpunished.

I gave all of the agencies my home phone number, which is unlisted, so I know if they call who it is by caller ID. I use my cell phone for private conversations.

I mailed out debt settlement letters out last week. I guess it wil be a couple more weeks before anything comes back, if at all. I am moving at the end of October, so that might complicate things in the short term, but I am determined to have my record cleared by the end of the year.

At the same time, I am not in a hurry, though. I am able to get a secured card through Bank of America from my other accounts to help rebuild credit history, and still have my Target Red Card with a very low balance adding positive comments to my reports.

If the companies will not work with me, then I won't work with them! I am offering a pay in full, and it doesn't take any more effort for them to say the accounts are unverifiable than it would for them to do hours of research into my accounts if I had fought them.

Posted: Mon Oct 01, 2007 10:11 am Subject:

U may also consider later on if they still refuse to delete them that they mark them as PIF... this will also help but first work on the delete!
Good Luck,
Ang

Posted: Mon Oct 01, 2007 7:05 pm Subject:

Not all collection agencies will do a pay to delete. I work for one that won't and I know several others now who don't also.

If you get some that do I think it's great! However if they don't the only person you are hurting is yourself in the end by holding payment hostage until your demands are satisfied. I'm not being mean when I say this but you lost the right to make certain demands when you defaulted.

Posted: Mon Oct 01, 2007 7:08 pm Subject:

FYI, will ur company take a settlement and mark it as PIF???
That looks better on ur report right?
Thanks for any info,
Ang

Posted: Mon Oct 01, 2007 7:12 pm Subject:

It does look better because on a settlement you are exchanging credit for having to pay a lesser amount.

My company doesn't report PIF with a SIF or a Pay/SIF to delete.

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Four collections ... how to proceed?

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