COLLECTION REMOVAL

[transitofmars]

Hi just joined forum. New to credit repair. My problem is I have a recent medical collection showing for Optima CA. This pulled my score down about 60 points. Ouch.  I'm interested in fixing this. I sent them a pay for delete letter certified us mail. I'm waiting to see if they would agree or agree to negotiate. The debt is &416. I offered $300.  I know they received the letter. It's been 17 business days as of this date and no response back.  Three questions- Can anyone offer guidance as to if I'm on the right track with this?  Should I be patient and wait them out?  Is there some other process I should be executing in parallel if the direction is to wait for the former?  Thanks!

[RobertEG]

Assuming the debt is legit and thus there are no verification or dispute issues needing action, then waiting a bit is probably the best course.

If you DV, assuming it would still be timely, it will impose a cease collection bar upon them, closing the door on any further PFD negotiations until such time as they choose to provide debt verification.  If CR deletion is your primary goal, DV might not foster that goal.

PFDs are a form of GW request, and giving them some time would most likely be prudent.  Upping your offer to payment in full might improve your chances of acceptance.

You might give them a call in a week or so, and get a feel for their position.

Meanwhile, is the debt still within SOL?  That is a relevant background consideration, as it affects options available to them.

[Shogun]

+1  RobertEG said it all.  Good Luck!

[transitofmars]

Thanks for your replies.

SOL – for my state it seems yes because this debt is  < than 1 year old.

DV - I did not take that step and I do not know if the CA bought it or if it was assigned. I did call the OC and offered to pay in full but they told me no. But do you think it’s too late for me to send the CA a DV letter? -or if it's even recommended at this point?

I understand the point of Pay in full offer but I have read in some articles that these CA’s acquire these accounts for pennies to the dollar in some cases. I thought I might try negotiations at first. Who knows.. I will have to wait and see. At some point someone will have to make the next move. If they don’t communicate with me I’m guessing they will not take further action against my report (since I sent them a document) and sell this to another CA. I have read this could imperil the new CA’s efforts to collect even further. At that point I intend to seek validation from CRA’s. I’m guessing I could get lucky at that point and collection could be stricken but I’m sure it’s going to take time.