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Verizon Collections Account
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Posted by Joanna
(68.17.102.198) on June 03, 2003 at 16:10:49:
My husband lost his job about 1.5 years ago, precipitating our getting way behind on several bills, including a Verizon cell phone account of roughly $500.
Verizon won't accept $$ directly unless it's payment in full, and I can't pay in full at the moment. They will accept payment plans through an attorney representing them. The debt is legit, and since it's on my CR, I would like to deal with it to either get it off or get it down from the R9 score it currently is, so I've spoken with that law firm about a payment plan.
I know the amount is low enough that Verizon probably wouldn't bother w/ a lawsuit, but I have fairly good credit otherwise, and for me, it's the principle of the thing. Verizon still owns the account and makes the reportings to the CRAs, so even though I'd be making payments through the attorney, he can't negotiate w/ me regarding removal of negatives from my CR, and I definitely want this option if at all possible. So I'm thinking I'll make 3 payments to the attorney to reduce the amount owed and then contact Verizon directly to negotiate removal of negatives from my CR, although I'm not sure if Verizon generally does this, being as large a company as it is.
I've always understood that on a CR, a settlement looks way worse that a "paid in full but late" status. However, this attorney tells me either scenario carries the same R5 Beacon score and that I probably wouldn't get this CR note reduced any lower than that. If this is indeed the case, it really doesn't benefit me a whole lot to pay the amount in full rather than settle, especially since $$ is still tight. Any thoughts on this?
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