If a Lawyer is being used to collect a debt would it be efffective for me to say I will pay your debt ---cont.

Question

If a Lawyer is being used to collect a debt would it be efffective for me to say I will pay your debt but you must gaurentte in writing you will remove this from credit report? HAs anyone doen this and it worked. I have this debt and it is on my credit report. I wil pay it but I feel it should be removed. Any advise

Answer 1

Anything you send to the lawyer should also be sent to the collection agency. Use the same letter and place both of them (names and address) at the top.
All letters to both places should NOT be signed, only print your initials or just type your name.
All letters to both places should be sent certified mail return receipt.

You should first send a debt validation letter to make sure the amount they are claiming is the true amount, that they are licensed and/or bonded in your state to collect (that would go for the lawyer also since the lawyer is acting as a collection agent), that they have a legal right to collect (proof that they own the debt or it was assigned to them) AND if you are still within the collecting SOL for your state (you can also click on my profile and click on the link listed to check check your states SOL)

If the collection agency, or lawyer, are reporting inaccurately on your reports, after you receive the green cards back send a dispute to the CRA's for any inaccurate information they are reporting.

Once they provide proper validation, send them a pay for delete letter requesting that they will accept a portion of the amount as payment in full and that they will delete anything they have placed on your reports upon payment.

Be sure to have both their signatures agreeing to both of those requests before paying.
Do not pay by personal check, pay by money order or cashiers check.

You might do some reading in the links I have listed in my profile - to the FDCPA, FCRA, etc.

If you are past the collecting SOL for your state, you have a legal right not to pay. You have the option to inform them the debt is no longer legally collectible.
If you are past the collecting SOL and want to pay, they will probably accept any offer you make. Since the only way they would get any money on that account is through your offer to pay.

Answer 2

First bit of advise, if the company you owe, hires a lawyer, and you feel you must pay the debt, never, under any circumstances pay the lawyer, pay the party that gave you the credit, and let the lawyer fight with them for his money, and make sure you get a paid in full receipt from the company.
You can always go back to the credit reporting company and explain your situation and in many cases they can remove any bad reports. Contrary to common belief, these reports do not have to remain for any given time.

Answer 3

You should have everything in writting. Not only with lawyers but any collection agency. In the terms of collecting a debt, the lawyer is just like a regular collection agency and must follow the same rules in the FDCPA.

They are not required to delete the information. However, if you are willing to pay the amount if they can remove the negative information, they may just do that for you. If you are trying to make a settlement for less money, you usually can't get both a settlement and a deletion. You usually have to choose one or the other, and the deletion is the better option. Just make sure they send any agrement to you in writting before you send any money.

Answer 4

Once it is delinquent and on your credit report, the company can leave it there for up to 7 years. Unfortunately, you are not in a position to "make deals" with a business that you have not paid. My experience has been that they will get their money one way or another and they will leave it on your credit report for the 7 years. It is always worth a try, but I wouldn't approach like you are doing them a favor by paying them so they should do you a favor. All you can do is ask.

Answer 5

The lawyer handling has to adhere by the rules that the creditor lays out. Not likely to happen. Besides, if a lawyer is involved then you might be looking at worse problems than the account showing up eventually as a paid collections account.

Answer 6

You can alsk in writing for them to inform the credit co you paid the debt, and they should be willing to do so.
But as far as removing the fact they had to resort to collection to collect the debt, nothing can change that. Sorry.

Answer 7

Well yes it would be great if they would do that, but If you pay it then your credit report will change from unpaid to paid.