Starting credit rebuild process
Date: Thu, 06/17/2010 - 03:30
Creditors:
Bank of America Credit Card
Aspire Visa Credit Card
Chase Credit Card
HSBC Bank Credit Card
WFFNB/EXST Credit Card
Collection Agency:
Midland Credit Management
Cavalry Portfolio Services
Asset Acceptance LLC
NCO Financial
National Credit Adjusters
I would like to try and send out pay for delete letters to these companies, should I send them to the original creditor or to the collection agency? If i send them to the collection agency and they agree will that remove both entries? Thanks in advance.
Sounds like a lot of your debts have been sold..Midland and Cava
Sounds like a lot of your debts have been sold..Midland and Cavalry are both junk debt buyers. They cannot make promises for the creditor whose debt they have bought.
A lot of the original creditors won't do pay for delete, especially if the debt has been sold. It is a charge off on their books and they probably dont want you back as a customer, so the goodwill line wont work. The junk debt buyers the same. You can try disputing but if they are reporting correctly and the debt is valid, dont expect too many results.
'Pay for delete' agreements are hard to find. Very few creditors
'Pay for delete' agreements are hard to find. Very few creditors and collection agencies will agree to remove the accounts from your credit report. The best way to get rid of these accounts will be to pay off the accounts. If you're in a position to pay off any of your accounts, then ask the original creditors of those accounts to take back the accounts from CA and pay them off. Also, try to negotiate with the creditors to report 'Paid in full' to the credit bureaus for those accounts.
But if you want to remove the accounts from your report, you might have to go for hard negotiation with the original creditors as well as collection agencies. Call the collection agencies at the end of the month with your offer. These collection agents have certain targets to meet and they might agree to your offer to meet their targets. Send them an agreement which includes the amount to be paid, the time limit within which the CA shall delete the account from your report and the agreement that the CA will not sell your account to another collection agency. Make sure that they sign the agreement and keep it for your records. Although, it's totally up to the collection agency to agree to remove the account from your credit report.
Original creditors will be difficult to negotiate with. Once the account is charged off, they might not agree to the Pay for delete agreement. But, if you're persistent with your negotiations, you might be able to get a PFD or Pay for delete agreement from your original creditors as well.
We welcome your participation Paul and would appreciate if you r
We welcome your participation Paul and would appreciate if you register here with us. In this way you can directly communicate with members and EARN for posting as well.
Jason
