Advice needed on next step in PFD

[Anonymous]

I have two medical collections from the same hospital with the same collections agency from 2011, about a month ago I sent a pay for delete letter offering about 20%. I quickly received a letter back stating the offers were not acceptable and they attached the DVL(original bill from hospital). So I upped my offers to about 60% and they responded saying the hospital has agreed to settle the debt for an amount that equals about 75% with about one week to respond however, they make no mention of deleting the info from my credit report. It also seems odd that they mention the hospital has agreed and not just them. 

I want to accept the offer but, only on the grounds that they will delete the information from my credit reports. I am not sure what the next step should be in acquiring an agreement signed by them saying they will remove that information.  What should I do? Should I call or try to email them asking for such a document, I really don't have much time with such a short deadline to send another letter before payment.

Anyone have experience with something like this?

Any help would be greatly appreciated.

[RobertEG]

The debt collector obviously does not own the debt, and is only an assigned agent of the OC.

Most assignments of collection authority require the debt collector to obtain approval from the OC of any acceptance of satisfaction of the debt for less than the full amount.

You can counter their current offer by continuing to request the additional condition that they also delete their reporting.

You might increase your chances of acceptance of a PFD if willing to pay in full.

Insisting on a signed agreement would be prudent, but it could be a deal-killer.  Oral agreement is a contract that you could choose to accept.

You oftern dont have a choice.

[Anonymous]

Thanks for then response, should I just email them referencing their offer and asking about the agreement to delete?  It seems a little odd that they never addressed this part of my offer either way. 

[gdale6]

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@Anonymous wrote:

Thanks for then response, should I just email them referencing their offer and asking about the agreement to delete?  It seems a little odd that they never addressed this part of my offer either way. 

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You can try that and see, if its a no go then you might want to check out the HIPAA Process, you can Google it. This process would require payment in full. It will be up to you to make the decision if its worth the 25% discount or not. Good luck

[Anonymous]

I have had a little email dialogue with the collection agency today, I am still on the fence as to whether or not I should send the payment.  I don't want to pay $1500 and not have improved my credit any.  I have copied some of the back and forth below beginning with my request for deletion in exchange for payment...any advice would be greatly appreciated.

"I recently sent via usps mail a letter offering to settle the accounts in the subject line in exchange for your company removing any and all information regarding these accounts from all credit reporting agencies.  I received a letter back from your firm offering to settle both accounts for the amount of $xxxx.xx however, in the letter dated January 22nd with the offer, there was no reference to my condition of immediate deletion of these accounts from any and all credit reporting agencies (Equifax, Experian and TransUnion).

I would be in agreement with your debt settlement offer if you would send me via pdf attachment or us mail a document on your company letterhead agreeing to delete/remove these accounts from any and all credit reporting agencies (Equifax, Experian and TransUnion) in exchange for money order in the total of $xxxx.xx paid to the order of xxxxxx.

Please advise soonest so I can execute payment."

"Mr. xxxxxxxx,

We do not delete from the credit bureaus, we report as paid in full or paid in full by settlement.

Thank You,

xxxxx"

"xxxxx,

I understand.

If you could please send me a signed document on your company letterhead outlining your offer for to settle the debt for $xxxx.xx in exchange for reporting the account as paid in full.

Thank You"

"Mr. xxxxxx,

Upon receiving your settled in full payment, we can give you a settled in full receipt.

xxxxxxx"

[RobertEG]

They are agreeing to the next-closest thing to a PFD.

They are agreeing not to report that you settled the debt for less than its full amount.

Your CR will thus look the same in a manual review as if you had paid the entire debt.

The significance is that reporing of settled for less informs others that the creditor took a loss, and that if you repeat that pattern with a new creditor, they may also take a loss shuld they lend to you.  It is never favorable to have a settled for less comment in your credit report.

[Anonymous]

So should their email stating this be as good as having a signed document stating that?

I just want to make sure I am covered should they not follow through on their end.

[RobertEG]

That is their clear statement of agreement not to report settled for less.

I would accept it.