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 Posted: Sun Dec 09, 2007 4:38 pm Subject: removing CA/original creditor negative for paying |
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If I work out some type of deal with either the OC/CA for paying the debt, can they remove the entire mark from the credit history--or does it have to remain?
Also, if you settle for a certain %, instead of PIF, can you work out a deal for the entry to be removed in my credit history?
Many thanks!
The Debt King
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The Debt King
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Debtcc Points: 100
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| Posted: Sun Dec 09, 2007 5:34 pm Subject: |
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The mark has to stay, but you can try to work out an agreement where by they update it to show "Paid" or "Paid in Full". otherwise they will most likely report it as a Paid Charge off, Paid Collection, Paid Settlement, etc. You'll still have the damage, but this may help to lessen the extent of that damage. Of course there is no guarantee they will agree to this. But at minimum they are required to report that the account was paid (at minimum Paid Charge Off, etc). Insist on a letter stating the account was paid so that if you have to dispute it later, you will have the documentation to expedite the process. Some less scrupulous collections agencies will even deny the account was ever paid..
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LCW
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