I have one debt un paid the rest of my credit is in good standing. It was a medical bill that went to collections. At the time I didn't have the money for the operation and was not covered by my insurance. My mother told me she would help me pay it and regretably I signed to have it done. to make a long story short she told me she payed it but now its gone to collections. Under the circumstances do you think its possible to cut a deal and get it removed from my credit report? I think I could pay half the amount and then another half winthin the year. Any Suggestions would be helpful thanks.
2007-01-16 05:50:34 · 7 answers · asked by Yieba 2 in Business & Finance ➔ Credit
According to the FCRA you do not have to prove you owe a debt - they do. It's called "debt validation", and it's within your rights to ask them to get a copy of the debt they claim you owe. Don't assume you didn't pay it...you just might have. Simply write them a letter like this:
"According to the FCRA I dispute your claim and request validation. Please provide original copies of this debt and the balance owed, if any."
If they prove it's yours, you can negotiate a settlement.
2007-01-16 07:01:45 · answer #1 · answered by Kevin K 3 · 1⤊ 0⤋
o.k. Here is what you can do:
Scenario #1: you can call the original creditor (the hospital) and set-up the payment plan with them first. After it is paid off and only after it is paid off you should call up the credit reporting agencies and start a dispute stating that the total balance due was paid to the creditor before it went to collections! :) Trust me, you will have a very strong leg to stand on. Here is why this scenario is better, first of all the hospital is going to be alot more cooperative and willing to negotiate a good price with you (unless you are in a very high income bracket). Number two: the hospital will never report you to the credit reporting agency as a "dept CHARGED OFF" (this is not good). Nuber three: the collection can be COMPLETELY eliminated from your record because it shouldn't have been there in the first place... sorta... :). Now there is a slight possibility that the hospital is going to say "We are sorry but your matter is already in the collection agency so you gotta take it up with them" in that case go to
Scenario #2:
You call up the collections agency and set up the payment plan with them, now, they are not very willing to negotiate,though, trust me... :( After you pay it off, you have to wait about 3-4 months at least (so that collection agency can purge their records). Than you call up the credit reporting agency and start a dispute staiting the same thing that the dept was paid to the original creditor before it went to collections, hoping and praying that when the reporting agency is going to investigate your dispute the records are going to be gone and the collections agency will not be able to prove anything, thus: you win. :)
I am not sugesting cheating :) I am just sharing my personal experiences... :)
Good LUCK! sorry for the spelling and punctuation errors.
2007-01-16 06:43:53 · answer #2 · answered by spagetti 2 · 0⤊ 0⤋
Collections just might take half, if you explain to them that's all you can afford. Depending on how long its been on your credit and the situation surrounding it, satisfying the creditors may drop the item off your credit report.
My husband had an unpaid medical bill for $80 that was in collections and "public records" on his credit report. It was a similar situation where he thought his parents had paid it. When he satisfied the debt, the item came completely off the report, it no longer shows at all.
2007-01-16 06:29:39 · answer #3 · answered by aj1020 2 · 0⤊ 1⤋
If your mother actually did pay it, then you must have a canceled check or some type of proof that payment was maid. It could be possible that it was missapplied to something else. Sounds like you are ready to eat it though.
If you are not contesting that payment was made, then you will not going to be able to remove it until after 7 yrs. It will show up as paid, but will still show up. If you settle, it will show that too, that you paid for amount less than owed.
2007-01-16 06:20:20 · answer #4 · answered by ricks 5 · 0⤊ 0⤋
No, once something has gone to a collection agency, it stays on the report for seven years from the date of delinquency with the original creditor. However, once you satisfy the debt, it will show as paid.
2007-01-16 05:58:29 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Per FCRA laws your credit report MUST be updated accurately. If they agree to remove it because you've paid it, they are essentially 'selling' a deletion. Its illegal.
2007-01-17 10:22:08 · answer #6 · answered by siren381 2 · 0⤊ 1⤋
It honestly never hurts to ask. Whether or not they do it is the question only you can find out.
2007-01-16 05:58:39 · answer #7 · answered by KL 5 · 0⤊ 1⤋