echo
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If you pay it without FIRST requesting that they remove it upon payment, the chances are good that it will remain. Plus, it will show as a paid negative, which will be about as bad as an unpaid negative.
Never speak to them on the phone!! Have everything in writing and send it certified mail return receipt!!
Always send a debt validation letter before sending a pay for delete letter. Make sure that the debt has not been illegaly inflated, that the collection agency actually owns/has the debt etc.
After you receive their response and you are not past SOL for collection, or you want to pay, send them a pay for delete letter.
Request to pay a percentage of the debt (as payment in full) and also request:
That they will delete anything they have placed on your reports.
That they will not continue to try to collect the debt (whether you pay in full or pay a percentage)
That they will not sell the debt or the remainder of the debt.
If you pay first and ask later, you have lost any and all leverage that you have.
You should also check your states statute of limitations (SOL) to see if you are still even legally liable for the debt.
Always ask to pay a percentage of the debt when dealing with a collector. They purchase debts for less than what is owed. How much of a percentage depends on how old the charge off is.
You might go to the site I've listed and do some reading on debt validation and pay for delete (PFD). |
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herminia a
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I work in a doctors office. When an account is in collection, that patient will not be seen until he or she will pay the bill. However, if the patient will pay using installment they will be taken out from the collection service. |
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stocketrader24
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no it will not be removed, you can attempt to negotiate with the creditor to take it off, remember once its charged off paid or not it still looks the same to creditors. So you have the upper hand in negations, they can spend more time trying to collect or they can give you want you want and they get their money. |
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Myke BoDean
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Call the people you owe the money to, not the collection agency, and see if you can work out a payment plan with them or pay the debt in full. I don't know if it gets removed from your credit report on not. |
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wk0740
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working for a national credit restoration company i can tell you the best thing to do is nothing. do not pay! you will only make a debt collector richer. there are several federal laws in place that work in your favor to have things like this removed. such as the fair credit collection practices act. look it up!!! the best thing to do would be to call a credit restoration company like mine and pay them to fight to get the collection account removed for good. |
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patriciaknoll@sbcglobal.net
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If you pay it in full they will remove it from the credit report.... but if they choose they can leave a mark on your report stating that the account had to go into collections which lowers your credit score... the best thing to do is talk to them BEFORE you pay it and see what they will do for you |
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brucenjacobs
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Depending on the amount you owe, it would go to a collection agency or an attorney. Most collection agencies have one or more attornies either on staff or on retainer. Once it is on your credit report it generally cannot be removed. You can write a statement that can be a part of your credit report if you have a valid reason for not paying on time, such as illness or other hardship. Also, once it goes into collection, you generally have some leverage on paying a reduced amount. Most creditors figure they would rather receive a smaller amount than risk loosing everything. |
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mikah_smiles
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It'll stay on your credit report for a while, but if you pay it off faster, you might be able to negotiate something with them.
Good luck! |
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Phil My Crack In
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It won't be automatically removed from your credit report, but if you dispute it through one of the credit report companies, they might take it off because they don't feel like dealing with the hassle. |
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christy
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I still make payments on my collection account and when I pulled my credit the other day it hasn't even been taking off. If you figure that out, let me know. I think they charge hidden charges just for it being in collections and screw people. |
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John M
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You can pay it off in full. You can also ask the creditor to remove it, however in most cases they will put it down as a slow payment. But don't pay the collection agency a dime. That is the mistake most people make. Once you pay them a dime, it can never be removed from your credit rating. Pay it off at the credit office where you had the account. Try giving them a sob story. Sometimes that works......like a death in the family is why you were unable to pay it off. |
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quietgiant
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yep the one dude was right you or at least your credit raring are screwed. good luck on this one ,once youve been turned over to collection,youre up the creek, do not blow them off, make some kind of arrangements to pay the balance you owe, collection agencies are hard core folks ,adept at levels of harassment you have never seen, plus they have the power to go to court on your debt and have your wage garnished until your debt is paid. |
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Mrs. Me
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Having worked at a bank and had an account go into collections this is what I've learned. The account will always remain on your credit report for at least 5 to 7 years. The best thing you can do is pay if off ASAP and begin reestablishing your credit rating. The easiest way is secured credit cards and jewelry store cards. Don't max them out and keep some activity on them because the bank can also close your account for non-use and that looks bad on your credit as well. You can request to have the account removed as a derogatory account from your credit report if you have some extenuating circumstances that caused you to go delinquent. A lot of the larger companies ususally will not cooperate but you may be able to work something out with a smaller company. Best of Luck. |
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melissa p
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it will usually go on your credit report and when you pay the full balance it will remain on there but it will say if it is past due or has been taken care of |
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juanita2_2000
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YOU HAVE TO TALK TO THAT CREDIT CARD IT DEPENDS SEVERAL TIMES I HAVE BEEN IN COLLECTION AND IF I MAKE PAYMENTS EVENTUALLY THEY REMOVE THE CARD FROM MY CREDIT REPORT |
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dukalink6000
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It will remain on there, as it shows that you had it go into collection.
You can petition to get it off, but you have to show a compelling reason as to why |
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BigPappa
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A lawyer begins pursuing a law suit against you. Ussually the best thing is to pay the person who hired the lawyer directly. If you don't go through the lawyer, you may not need to pay his fees. |
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Barack The Boat!â„¢
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they take whats left in it to pay what u owe. |
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zach3b4vt_mt
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um |
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linda
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Hopefully if you pay it in full they may remove it from your credit report but this is very unlikely.
You really gotta always pay your bills on time. |
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embigguns
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you are screwed. |
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.
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Collection agencies are nothing more than a bunch of guys harrassing you with phone calls and letters. It ain't serious until you get sued. |
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jojo
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yea they will remove it themselves once you've paid up |
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ERICKSMAMA
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It will show as paid in full and your credit rating will go higher,,,, |
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tait_brown
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You may have to give them more than money, if you know what i mean. |
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PK
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May be hope the best..i don't know |
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