"Account legally paid in full for less than the full balance"
Settled means that you did not pay as agreed, but paid less. If
Settled means that you did not pay as agreed, but paid less. If it collection account, really doesnt matter...a paid collection by any means aint much better than an unpaid one.
Quote:Originally Posted by SOAPLADYSettled means that you did no
Quote:
Originally Posted by SOAPLADY Settled means that you did not pay as agreed, but paid less. If it collection account, really doesnt matter...a paid collection by any means aint much better than an unpaid one. |
It hasn't gone to collections yet. The banks Collection Dept. is the one that issued this offer.
Quote:Originally Posted by AnonymousIt hasn't gone to collection
Quote:
Originally Posted by Anonymous It hasn't gone to collections yet. The banks Collection Dept. is the one that issued this offer. |
Also, it does not say "settled" anywhere in the quote.
Quote:Originally Posted by AnonymousIs this ideally what we want
Quote:
Originally Posted by Anonymous Is this ideally what we want or is there something better that I can negotiate? |
Hi ruby,
I would suggest you to go with the offer. Since the offer is made from the creditor itself, it's good to agree to an offer where you can pay less legally. Just, ask them to report the account as 'Paid' to the credit reporting agencies as well.
My short sale was reported to the bureaus "Legally Paid in Full
My short sale was reported to the bureaus "Legally Paid in Full for Less then Full Balance"also.
I dont care how derogatory that may sound, the fact is LEGALLY PAID IN FULL means that the lender accepted less than what was owed to consider the account as paid in full, right? Thats exactly what that means. Settled is not in there, charge-off is not in there....BUT GUESS WHAT!
Chase decided to send my deficiency balance to their recovery department after this report and now it is in the hands of vultures, Oxford Mgt.
So, what good is a credit report if it doesnt mean squat and if the lender can not be held liable for accurately reporting it? My attorney, my realtor and myself are all scratching our heads on this one and now we have an uphill battle, SO....dont trust how its reported!
Well, if your lender is not accurately reporting it then you can
Well, if your lender is not accurately reporting it then you can have the account removed from your credit report. Legally. It's a few steps and takes anywhere from 90 to 120 days but it is a permanent deletion.
I am doing this for some clients right now.
I'm not going to advertise my website here, so don't even give a way to get there.period.
Hey Dominique, I thought you could only remove negative listings
Hey Dominique, I thought you could only remove negative listings by disputing them with the Credit bureaus. Is there any other way to get them removed faster?
Absolute rubbish. If you dispute a tradeline for accuracy they
Absolute rubbish. If you dispute a tradeline for accuracy they have 30 days to resolve it (45 days if disputing from your annual free report). If they do not respond to the dispute, then it can be deleted but they could also update it and correct it. The only permanant deletes would be accounts opened as a result of ID theft and collections that pass the 7.5 year mark.
