Pay Off

Date: Mon, 03/15/2010 - 09:10

Submitted by anonymous
on Mon, 03/15/2010 - 09:10

Posts: 202330 Credits: [Donate]

Total Replies: 2

I have neg from Medical Bills//If I pay the collection agents off in full//Will that end my contract with them/After the contract is ended if they are requested to verfiy a debt,can they still do that and report to the cra.I can pay off the debts one at a time.But still have not figured out how to remove from the cra..It would seem after they are paid in full that would end the debt helpp Apprec8iated

I think you are bit confused about the process of debt validatio

I think you are bit confused about the process of debt validation.

Debt validation is done when you dispute a debt item. DV is done before paying off the loan and not after. If you are sure about the debt, you may consider paying it off without wasting time on validating it. However, you must obtain every communication in writing from the collection agency. Also, you must confirm that they update the proper status of the account with the CRAs once it is settled.

lrhall41

Submitted by SC on Mon, 03/15/2010 - 22:52

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There is a way to pay it and get it off your reports. It is cal

There is a way to pay it and get it off your reports. It is called the HIPPA method. Basically you send the original creditor a check for the amount owed with a restricted endorsement, basically that only they can cash it. Once it gets cashed you then send a letter to the CA and state that since the debt is paid there is no business relationship between you and the CA and them posting your account on the report is in violation of HIPPA laws.

lrhall41

Submitted by goldenbast on Tue, 03/16/2010 - 03:44

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