Re: Old credit card debt in collections? Advice

Posted by afis (82.128.2.133) on August 05, 2004 at 14:33:24:

In Reply to: Re: Old credit card debt in collections? Advice posted by Mark Goberson on March 29, 2001 at 13:28:43:

: Make sure whenever you pay a debt to negotiate before repayment. If you can pay 50% of the balance, you may be able to settle for 1/2 the original amount. Never, i repeat NEVER pay a collection agency until you negotiate, either for them to delete the account from your credit report and negotiate a lesser amount and ALWAYS get that in writing. My experience with collection agencies is that their word is not any better than a compulsive liar. They'll tell you what you want to hear in order to facilitate payment of the debt, but unless you get it in writing, your helpless. Most collection agencies will delete from your credit if you push hard enough. Let them know they're not going to get their money if they don't agree. Most reasonable people will want their money. The FCRA states they can not report for more than 7 years, but it does not put into consideration a minimum time limit to be reported. Work that to your advantage. Don't let them convince you otherwise. Cite Title 15, Ch. 42 US CODE, section 1821. Good luck

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