I do owe the debt and will pay it, but my credit report is stating the wrong amount. I sent out a debt validation letter and recieved back my debt amount but it is for about 50% less than what is in my CR. What should I do? Contest it again or just contact the debt collector and start my negotiations? I don't want to get stuck with the other 50% after I pay them off.
2007-10-28 17:50:31 · 2 answers · asked by Jay R 2 in Business & Finance ➔ Credit
The amount being shown on your credit report is not a legal amount you owe....and in many cases it is always wrong.
You said they send you validation? Then send the credit bureau a copy of that, and point out that the amount is wrong. They must either correct it or erase the entry.
2007-10-29 06:15:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Negotiate a settlement. Depending on how old the debt is, you may be able to settle for 75% to 50%. Lum sum payments get the best deas. Payment plans have to be short term. Get any settlement agreement in writing before you pay and don't give them access to your bank account. You can ask them to delete the negative -- some will, some won't.
2007-10-29 01:12:27 · answer #2 · answered by bdancer222 7 · 0⤊ 1⤋