Verbal pay-for-delete?

[Anonymous]

Hello all! I hope you can help.

I had worked out a verbal agreement with a collection agency where they promise to delete collections record from my credit report upon receipt of my payment. However, they refuse to document this pay-for-delete agreement in writing, claiming that it is against their corporate policy to do so. What should my next steps be?

The amount is not significant to me and I can pay it in full.

Of course, I am concerned that they will not honor this verbal agreement and will ruin my credit for the next seven years. What should my next steps be: should I record the phone call, send an endorsement letter with my payment, refuse to pay if they do not supply anything in writing?

=Thank you!

[gpeach]

What is the company name? Search the boards and see if there are any people who have dealt with them.

Since it is not a big amount the person could just not feel like dealing with the hassle. There are some that I have read about that once you pay they say to dispute and they just delete it then. 

[llecs]

OP, if the agreement isn't in writing, it never happened. However, it won't re-age and stay on for another 7 yrs. Barring their removal, it will fall off at the same time as if you didn't pay it, which is 7 yrs from DOFD. If they don't honor it, then write them and kindly remind them of your agreement.

Record the phone call only if your state allows you to record phone calls.

http://www.rcfp.org/taping/states.html

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gpeach wrote:

What is the company name? Search the boards and see if there are any people who have dealt with them.

Since it is not a big amount the person could just not feel like dealing with the hassle. There are some that I have read about that once you pay they say to dispute and they just delete it then. 

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You can't dispute it because it is reporting accurately. There's no written agreement to show the CRAs to request for deletion.

[Anonymous]

Thank you! The company is NCO Financial Service and I have read mostly negative things about them.

What are your thoughts on the endordement letter? Do you know if examples when CAs were ok with it? Also, the CA that has my account has an option of paying online. I can use a one time virtual account number. Is it a good option to pay? One last qeustion, should I dispute the account with credit agencies after I make a payment?

The account was just opened in July of 2009, so I'm really trying to get everything I can to have it removed completely. I think I need a lawyer..

Thanks a bunch!