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Collection Account Deletion

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Anonymous
Not applicable

Collection Account Deletion

How do you negotiate a collection account deletion?  I recently paid a collection account (not in full - they offered me a settlement amount) and I'm wondering how I can get it deleted from my credit report.
Message Edited by LilMirth on 08-23-2009 12:29 AM
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Collection Account Deletion

Usually you need leverage... ie, you owe money, they want that money, and they'll delete it if you give them the money. Not all CAs will got for it, but some will. Not sure how much leverage you've got now that you've paid to close it. You could try offering to pay the rest of the balance in exchange for deletion, but I don't know if that's kosher, as the accounts closed. You could also GW them and hope they'll take pity on you.

 

Maybe others will have better advice for you. Good luck!

Message 2 of 5
guiness56
Epic Contributor

Re: Collection Account Deletion

When you settle an account, depending on how it is written, they can still come after you for the defiency amount.

 

Who is reporting, the OC or a CA?

Message 3 of 5
DI
Super Contributor

Re: Collection Account Deletion

Make sure they don't plan to send you a 1099c.  Forgiving debt is considered earn income.  Maybe I need to start a new thread since its getting close to tax season again.
Message 4 of 5
RobertEG
Legendary Contributor

Re: Collection Account Deletion

You cant really "negotiate" deletion of a paid account.  As has been said, you have no negotiation chips.

 

Further, when asking a CA to render a GW deletion of a paid account, you are asking them to violate their reporting agreements with the CRAs, which include specific instructions to the CAs that they are NOT to delete accounts on the basis that they have been paid.  Any CA is justified in telling you that they are bound not to offer good will deletions on the basis of payment of the account balance.

 

 

 

Message 5 of 5
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