Re: to pay or not to pay?

Posted by anonymous on January 30, 2002 at 23:58:18:

In Reply to: to pay or not to pay? posted by jd on January 30, 2002 at 03:32:22:

It cant hurt, I would send a form letter to each creditor offering a 50% settlement. Make sure that you indicate that the settlement will only be paid if they agree in writing to remove the trade line from your credit report. This offer should not be offered to Collection Agencys as they usally did not buy the account, nor do they actually report. However, if they did buy the account, I would require the agency to provide proof that the trade line/s will be removed, both theirs & other creditors, ie.. previous collection agency/s and/or the original credit grantor.
Do not be tricked into the old line, well you send a letter & we will sign off on it. This is a common practice used by bill collectors to avoid a problem, usally the person that signed it is gone by the time you realize the problem still exists, or does not have the authority to make such decisions.
If the creditors refuse to remove the derogitory trade lines, dont pay!!

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