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Hi There!

Quick question... I've negotiated with a collection agency to begin paying off the debt, however I have yet to sign anything and I would like to make some agreement so that this won't negatively affect my credit. I read in one of the articles that the ideal thing would be to ask it to be removed- but i doubt they'd be ok with that. The next option would be to mark it unrated, and next would be 'paid' rather than 'paid charge off'. Does anyone have a letter or email template to throw these at the collection agency??

As a general rule you DONT sign anything. When any debt goes into collections, all payments arrangements made are temporary and subject to change.

What type of debt is this?

Sub: #1 posted on Thu, 09/04/2008 - 13:42

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They were going to take me to court, but I told them I could pay. I negotiated a price, but I also want to make sure that my credit is negatively affected by paying this. What deal can I strike up to avoid a (more) negative mark on my report?

Sub: #2 posted on Fri, 09/05/2008 - 05:22


A collection account is a collection account whether you are paying on it or not. Since CA's are not creditors per se, you do not get "paid on time" from them. Your status remains the same.

Sub: #3 posted on Fri, 09/05/2008 - 05:28

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soaplady, Instead of working with the collection agency, could payment arrangements be made with the original creditor? Would this remove the collection agency mark from my credit report?

Sub: #4 posted on Fri, 09/05/2008 - 05:43

thlovely1 thlovely1

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