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Re: Before I settle Please verify, WHY-CHAT, LadynRed & others
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Posted by Why Chat (209.240.198.61) on February 05, 2003 at 07:38:27:
In Reply to: Before I settle Please verify, WHY-CHAT, LadynRed & others posted by LadyM on February 05, 2003 at 07:28:17:
Perfectly correct.
You pay the $487.00 - They update your report to show a paid collection with a 0 balance.
Since this is a NEW signed agreement with a new creditor, (not the OC) this can technically stay on your report for 7 years from your "settlement" date. THEN- the balance unpaid is sold to another CA, who is not bound by your agreement with NCO, and is legally allowed to enter the $300 or so + interest as a NEW colletion amount on your report.
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