Paying off debt for a deletion letter work???

Question

Once you have a deletion letter or pay off letter can you get in contact with the credit bureaus and have them erased it or is that something I have to take on with the collector to do so??? And if I don't get a letter of deletion should I even pay it back if it's still gonna be there anyway??

Yes if it is already in COLLECTIONS!! your telling me there's no way to negotiate with them to have it taking off?

IN RETURN FOR PAYMENT!!

Answer 1

An unpaid collection has about the same effect on your score as an paid collection. The only guaranteed way to get the collection off your credit report is to get the collection agency to agree in writing that they will remove the trade line from your credit report after you pay them.

Just make sure your get this in writing before you pay any money to them. They will lie and tell you anything you want to hear on the phone. This is what you need to do to reslove your problem

If you pay them first without getting a letter it will stay on your report for 7 years from the date of last activity (DOLA) not 6.

Also here is a link to a article on credit report disputes and how the process works http://www.creditfamily.com/articles/dispute-inaccurate-information.asp

As soon as you get the deletion letter from the collection agency you should dispute it with the credit report agency and tell the collection agency to remove it too.

Good luck!

Answer 2

Boy I sure do get tired of correcting the information from these so-called professionals.

Zeebo is correct in saying that it does you no good to have an item listed as "paid" because it will still reflect collections or late payments. Unless the creditor agrees IN WRITING to DELETE the entry, then paying it off does you no good. You would be wasting your money.

But Zeebo's (and others) still give incorrect information about the reporting period. And for someone claiming to report for a credit bureau I'm amazed at the lack of training they give their employees!

Please open your books to the Fair Credit Reporting Act Section 605, which clearly states that the reporting period for debts is 7 years, beginning from the day of the delinquency. NOT the date of last activity. NOT the day of the last payment. NOT the charge off date.

So if your debts are old, and the creditor is not willing to delete the entry, then I would just wait for the reporting period to run out.

Answer 3

I use to work for Equifax and I can tell you (if your an american ) that you will need a letter from the company with a company letter head on it stating to remove the account. Stating it's paid off is no good. It has to say to remove it. Now for your question of paying it off. It automatically purges from your file 6 years from date of last activity. So if you pay it off today it will stay another 6 years from today. On the other hand ( I'm not sure how much you owe ) If you don't pay it, It could go to a judgement and stay on longer. If it's a small amount then chances are that it would never go to a judgement. But a large amount may. Just remember it all goes by the date of last activity.

Answer 4

It doesn't matter. If it is correctly reported as a collections account, then it will stay on your credit report. If the collections is fairly recent, then you are better just paying it off. This way it will have less of an imapct on your credit score. BE SURE TO KEEP ALL RECORDS CONCERING THIS MATTER. While a creditor is very quick to note derogatory credit, they are not as quick to note resolutions. Once you've paid this account, please check your credit report regularly. If you live in the US, you are entitled to one free credit report from each of the 3 major credit bureaus each year. Check out www.annualcreditreport.com. Best of Luck!

Answer 5

Could you please make your question a little more clean in order that people can understand what you are asking? I think if you pay of the debt owed, you can provide proof to any credit bureau, but, if it was an overdue debt that you did not pay until it was in collection, I don't think it will go off your credit report, (because it went to collection) if that is what you are asking.

Answer 6

You have a constitutional right to defend your life, be happy, aquire property, these rights are inalienable as well,like me take your case to small claims. I believe once your debt is paid it should be erased, as if it stays on your credit it is left theire in a cruel fashion to adversely affect your life. Sometimes we need to fight for our rights...good luck my friend.

Answer 7

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