$3,000 CL FROM ALLIANT CREDIT UNION FOR NEW VISA ACCOUNT BUT THERE IS A CATCH

[tray]

Hi, everyone I want to thank you all for the advice you are giving me, I made a check out but have not mailed it out yet, I am going to try to call calvary portfolio and see what can be done, and will give an update, although on one thread it was mentioned if I do pay off this collection it will go reported for another 7 years I do not believe that is accurate if anyone can shed some more light( as this account is due next year to fall off reports)  I have in the past paid a small collection in 06 and it is due to fall off my report when it is suppose to so now I am confused.  Thanks

[Anonymous]

Nope it won't report for another 7 years - the original date will still stand as far as drop off date - but when it hits as last activity being now instead of all the way back when then you may see a score drop

[Red1Blue]

Cavalry is pretty good in deleting the paid collections. They deleted one of my old sprint account. Talk to them.

[creditwherecreditisdue]

Call them and ask for a PFD. Hopefully they will agree. Try to get something in writing if they do. If you have to write to them do not sign your letter. If they do not agree the CA will report until 7.5 years after the DOFD.

[Anonymous]

Ok, to get this resolved quickly, here is what I would do.

Hopefully you have acess to a fax machine. Call these knuckleheads up and tell them you are holding in your hand a check to pay them in full. HOWEVER....in return, you need for them to fax you a letter on company letterhead and properly dated and signed by someone that says they agree to completely delete this account from all three of the credit reporting agencies within 5 business days of their receipt of your money and that you have a credit monitoring service and you will be watching to make sure it happens. You also tell them that you know this account is scheduled to naturally fall off your reports in a year and they won't get a freaking dime and that you are prepared to wait on that to happen if need be. If they want paid in full today, they have 2 hrs to fax you this letter. Tell them you are willing to overnight them the check upon receipt of the above menioned letter. Do not tell them this other thing with Alliant is in the wings. None of their business. If they ask why you are dealing now after all this time, you tell them you had an attack of conscience and would like to clear up any past mistakes.

If they agree, and only if you receive this letter, are you to take that money and send it by overnight mail to them. 

Then you go to Alliant with your letter from the CA and tell them to shove it where the sun don't shine.

Seriously, I am shocked that an unpaid collection account like this has not harmed you from getting new credit before now. Most places (in my experience) refuse to even talk to you if there is any non-zero balane collections out there.

Now, what to do if they won't deal? That's your call. I would hate for them to call your bluff and you cave. Is a 3k Visa from Alliant worth that? Only you know the answer. 

[creditwherecreditisdue]

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@Anonymous wrote:

Ok, to get this resolved quickly, here is what I would do.

Hopefully you have acess to a fax machine. Call these knuckleheads up and tell them you are holding in your hand a check to pay them in full. HOWEVER....in return, you need for them to fax you a letter on company letterhead and properly dated and signed by someone that says they agree to completely delete this account from all three of the credit reporting agencies within 5 business days of their receipt of your money and that you have a credit monitoring service and you will be watching to make sure it happens. You also tell them that you know this account is scheduled to naturally fall off your reports in a year and they won't get a freaking dime and that you are prepared to wait on that to happen if need be. If they want paid in full today, they have 2 hrs to fax you this letter. Tell them you are willing to overnight them the check upon receipt of the above menioned letter. Do not tell them this other thing with Alliant is in the wings. None of their business. If they ask why you are dealing now after all this time, you tell them you had an attack of conscience and would like to clear up any past mistakes.

If they agree, and only if you receive this letter, are you to take that money and send it by overnight mail to them. 

Then you go to Alliant with your letter from the CA and tell them to shove it where the sun don't shine.

Seriously, I am shocked that an unpaid collection account like this has not harmed you from getting new credit before now. Most places (in my experience) refuse to even talk to you if there is any non-zero balane collections out there.

Now, what to do if they won't deal? That's your call. I would hate for them to call your bluff and you cave. Is a 3k Visa from Alliant worth that? Only you know the answer. 

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I would skip this step. I would ask the CA to fax you again after they have received and processed your payment indicating that the debt was satisfied in full. I would, in turn, send this letter off to Alliant. I would not get hardnosed with the CU. They have done nothing wrong here. Be sure you get the agreement to PFD from them in writing before you pay.