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FreakyGeeky | Is this blackmail? |
I have a bill collector chasing us down for about $800. I plan on telling them I am not paying anything unless they tell me they wont post negative information to my credit report. Is this legally blackmail? Yes, I know you will all say I just need to pay my bills. But I'm still not paying it if it just going to f *uck me later anyway
Additional Details
Blah blah blah. Is it legal or not? |
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$m¤¤v¥ £¤¢¤
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What you're asking about is whether or not you can negotiate a "pay to delete", which is a payment in exchange for removing it from your report altogether. Before you talk to them, here's some things to think about:
1. How old is the debt? Were you aware that there's a timeframe that debt can be legally collected? It's called the statute of limitations(SOL). This is different from the Fair Credit Reporting Act(FCRA) 7½ year rule of reporting on your credit. Here's the link that lists all the states:
http://www.creditinfocenter.com/rebuild/statuteLimitations.shtm
There's a chance that this debt isn't even legally enforcable in court, which gives you the upper hand. Lots of collectors bank on the fact that you're not aware of this, and cough up money anyway. The more you know, the more you can protect yourself.
If it's past the SOL, then you can do one of two things, negotiate a "pay to delete" or simply wait out the FCRA 7½ year limit to where it stops reporting. Keep in mind, that debts older than 2 years are no longer hurting your score as much as more recent debts.
The next several links explain in detail on how to negotiate a "pay to delete".
http://www.creditinfocenter.com/debt/settle_debts.shtml
http://www.creditinfocenter.com/debt/neg_rating_after_settle.shtml
http://www.creditinfocenter.com/debt/CanCreditorSue4SettlementDifferences.shtml
http://www.creditinfocenter.com/debt/ActualDebtSuccesses.shtml
http://www.creditinfocenter.com/debt/debt-negotiation.php
Hopefully, these will help out |
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SlimMick
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Of course not....this is a common practice....Never pay a debt collector without first getting a written agreement from them stating that they will accept the offered amount as payment in full and that they will delete (or not put) negative items on your credit file. Never accept verbal promises over the phone from debt collectors...they'll laugh at you once they get your money and deny that any agreement was ever made. Without a written agreement you have nothing to fall back on.
Also, if you pay....DO NOT pay by giving them your bank transit + checking account #.....They can raid your checking account if you do this....Pay only via USPS money order....be sure to photocopy for your records.
Update: It is NOT illegal to attempt to get a written agreement about the terms for paying a debt collector.....If the debt collector is saying that this is blackmail....he/she is just trying to scare you into paying them asap without a written agreement... |
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mwarrior 1
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As the previous poster said, get it in writing from them first. And yes they will most likely provide it to collect the money, but make sure it says "We will delete the accoutn" rather than "Mark it paid in full". I've seen some try to pull that.
Also as for not paying, if it is more than 7years old (or almost) it'll come off once it hits 7years anyway.
Just send it in writing saying "I am not admitting this is my debt, but will pay it to avoid any hassle. I require that you will delete any mention on my credit report once this amount is paid, and require confirmation in writing before any payment is made". |
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philslittlemama
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To answer your question, no, its not illegal. You need to make a deal with them. You're still going to pay it, but if you don't get something in writing they can say anything they want and you have no proof. You MUST cover your *** in this situation. Credit collectors are the lowest of low people and they will do anything to scare you into payments. |
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Studly
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OF COURSE it's blackmail! That is how you get the the attention of collection agents.
Is it blackmail when they threaten to destroy your credit score if you don't pay?
OF COURSE!!!!
And in both cases, it's perfectly legal.
Follow the advice given in the previous answers. Send them a negotiation letter detailing your offer. If you intend to make payments, spell out exactly how much and how long.
But most important....get their SIGNED AGREEMENT to these conditions, and make sure it includes that they will DELETE this item from your report once you have paid them, plus make sure it clearly states this debt is paid in full with no further obligations.
DO NOT believe their lies that once paid, they will show this debt as paid in full on your reports. That's true, but it will still show that it was in collections, and it will still be a derogatory item on your report. In other words, you just paid a debt and it did nothing to help you out.
No, it's not blackmail...it's negotiation. |
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Laura
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Once a bill goes to a collection agency, you've already been reported to the credit agencies for not paying. Until you pay, it is going to stay on your credit record as a not being paid. |
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Beverly S
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It's probably already on there if you are over 30 days late. If you don't pay it will draw your scores down lower & lower. Ask for a "pay to delete" option- get it in writing. |
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Pyar
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You screwed up your account .. and you want them to change the rules for you ... get over it and pay up! |
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sofiamarialucia
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Any time you have someone contact you to pay a bill - whether it's the company themselves or a bill collector they've contracted out - you have already been reported on your credit report. There is no negotiation on being reported for being late on your bills - if you're late, you're late, and trying to withold payment in order to have it removed will do you nothing except to receive a notation on your account that you are unwilling to work with the company. If you don't pay, you're going to hurt yourself worse than if you do pay. If you do pay, even though you will have it on your credit report that you were late, you will also have the notation that the accounts are paid in full. If you do not pay, then not only will there be the notations that you were late, but you will also have a charge off listed on the card - keep in mind that this will show on your report for the next 7 years. |
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tcfoos
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Yes that is a negotiatable item, however you will catch more flies with honey than vinager so be nice and offer to pay in full and get an agreement sign by the agency to remove the item before paying it. |
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Chris O
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And with an attitude like that why does everyone wonder why there's a credit crunch?
The longer you stew over it the more interest is pilling up on you... |
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bud68
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Blah blah blah. |
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