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Should I request a letter with full payment history before offering a settlement ??

Date: Mon, 04/10/2017 - 20:12
Submitted by kim on Mon, 04/10/2017 - 20:12
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acquired debt in 2005 been paying 10-25 $ a month depending on my finances at the moment, I am trying to decide if it would be beneficial to request a complete payment history from the agency before I make a offer to pay off, I get a statement every month however it doesn't list anything except the principle amount and the interest amount, I want to be done with this debt and think that they have surely gotten there money back since taking the debt 14 yrs ago


Go ahead. You should have something to prove that you have made payments. You also need to know how much you have paid till date. What is your mode of payment?


Submitted by ditchdebt on Mon, 04/10/2017 - 22:45

ditchdebt

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You may ask for your payment history from the agency before settling your dues. However, the best option is to get a free copy of your credit report from each of the three credit bureaus (Experian, Equifax, and the TransUnion) once a year. Since payment history makes up 35% of the credit report, it’s better to check your credit report to get a detailed knowledge about of your payment history.


Submitted by Phil Bradford on Tue, 04/11/2017 - 04:03

Phil Bradford

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You can always ask for the break up of your payments. Doing so, you'll know your current outstanding payment. Based on that, you can negotiate with the creditor for settlement.


Submitted by Good Nelly on Wed, 04/19/2017 - 04:43

Good Nelly

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