Re: Settlements

Posted by A Bill Collector on January 31, 2002 at 22:56:45:

In Reply to: Settlements posted by Ryan M. on January 29, 2002 at 22:10:59:

I personally would not pay any settlement unless the creditor agrees to remove the trade line completly, or mark it paid in full (r1). Dont be in a hurry, they will settle, if you must hurry then I would get a lawyer to do it for you, he has a better chance. Also DO NOT allow a collection agency to give you the line, "We can not send you a letter that says that, so fax us a letter, we will sign off on it." This is not the case, that is said because they have no authority to make that decision. If you must do this, make sure you are clear that ALL record of this account is to be removed, by ANY company that may have reported it. Most of the time this will not be approved until you account is sent to a legal department for review, dont let that scare you, they are just as willing to take your money as you are willing to resolve the problems. If a resonable settlement cant be reached, maybe you should consider other alternitives such as bankruptcy.

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