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Can I request the CA to report the account as “Paid in Full”?

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I have a collection account on my credit report. The account is about a payday loan taken out from a company in Reedley, California. I'm not sure if the debt is valid. I don't have any evidence to prove that the debt is illegitimate. I have a sort of agreed that the debt is mine over telephone. I have sent a PFD letter to the CA. They have rejected it. The total bill amount is $900. Should I pay $500 and request them to update the account status as “Paid in Full”? Is it possible.

for one who is the lender,and who is reporting it?if it is legit(which we don't know)a settlement will not be deleted from your CR.only the full 900.00 with the PFD negotiated in advance.however even that isn't a given.again who is the lende and who is reporting it?answer those and we can advise further.

Sub: #1 posted on Fri, 07/26/2013 - 05:46

paulmergel paulmergel
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(Posts: 15514 | Credits: )

Legally they have to report it settled. If the lender is based out of California, it might be legal. Who is the lender?

Sub: #2 posted on Fri, 07/26/2013 - 06:01

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