Collect Account - What are my options to remove?

[Anonymous]

I have an account that was sold to a collection agency.  I contacted them and of course they weren't too friendly.  I know they have a job to do which is to collect.  The original lender sold it off to the collection agency.

I asked how I can remove the collection/negative report from my credit report and they told me that if I paid it off, it will be noted as Paid in Full or join the rehabilitation program and after 9 months have it removed.  Those were the only 2 options given to me.

I wanted to find out is there any way to negotiate with CA to remove the negative remark after it has been paid in full?  Or do I have to wait 9 months in the program.  I really want to get this removed from my report but they give me no option but to join.  Can I negotiate with them to remove after payment in full?

[Anonymous]

If you have not paid yet, you can attempt a PFD. If you are not familiar with PFD (Pay for Delete) just do a little research on these threads and you will find plenty of information. Otherwise your only other option is to GW them until the cows come home or until they delete, whichever comes first.

[tullz85]

There's a basic formula for the most part here

First, is the debt valid?

Second, a big lesson is do not trust word of mouth. Always have something in writing just in case they refuse to honor it later on!

Third, Do you have the funds to pay it in full?

Fourth, if so, write them a letter and mail it (or fax it) to the CA and write a PFD to them. Tell them you have the funds available and will pay upon receipt of the letter that they will PFD.

Lastly, GW letters work wonders IF the CA decides to be responsive or to care about your letter It's kind of a waiting game...and a hassle. Generally, you need to find a VP or CEO or someone high up to help you!

Make sure that the debt makes sense, everything matches up with what they are reporting!!

If you PIF then you have to GW, which will take longer. From what I've gathered, some do a PFD, doesn't hurt to ask

[PayingTheBills]

This sounds like a student loan that defaulted... is that right?

[Anonymous]

I've heard about the 9 month program before.

You can try sending a PFD, as advised, and seeing if you PIF right now in lump sum if they'll remove.

If not, which they don't have to, the only way would be to join their program.

Just make sure you get things in writing...no generic letters either.