Can I request the CA to report the account as “Paid in Full”?
Date: Fri, 07/26/2013 04:53
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.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.