Pay off collections? or dispute them even if they are legit?
I have a couple of collections from when I was younger and didn't have a steady job. Now I am battling old debt when getting started in REI.
Can I dispute something that is legit, or should I pay them and live with it for 7 years?
Tuxman,
Just a question to better help people with credit problems. How do you make sure that the negative info does actually get removed when you pay off the debt, if the collections agree to do so for a paid in full?
In short, what are the legal forms/procedures that you need to use?
Glad to have you here to help answer the credit problem questions.
Roger
Well if you want to be a good boy and a moral person pay off the debt. I mean you did ask for the money why not pay it back?? Second thing is you can dispute things that are legit. Third is if you are going to pay off the debt write the collection agency and state that you will pay whatever the debt is if they will remove all negative listings from all 3 credit reporting agencies.
Just to make sure I have this right tuxman, I can negotiate the fact that if I pay off the debt they remove it from my credit report entirely from all three bureaus? (Not a zero balance, gone entirely)
Correct!! Its not a legal form. If you want to e-mail me at tuxman123 at earthlink.net I can give you a template. Basically what your doing is stateing that you will pay the debt in full only if the listing is completely removed. You dont want a paid in full collection is almost as bad as a collection itself and still doesnt come off for another 7 years.