Rebuilding Your Credit

[Tryin2rebuild08]

If you get a new collection letter from a CA and they have not posted the Collection to any of CRAs as yet, but they send you a payment plan to pay monthly. If you pay monthly, will this prevent them from adding it to your report?

Next Scenerio, a few weeks ago, I mentioned my CO chase cr card, but when I contacted them they advised me that the account is closed and I need to contact the CA. All I have for the CA is the number and the name, yet they CA has not contacted me neither by phone or mail. I'm also not seeing them on my credit report. I would hate for them to show up now my scores are increasing. If I contact them and make arrangements to pay, will they still add the account to my reports?

I'm trying to avoid these two new collections on my reports, your help is appreciated.

Thanks

[sidewinder]

Paying monthly will not prevent them from reporting you. Even if you make payment arrangements, they can still add this to your report.

What you want to do is negotiate with them and get an agreement in writing that they will not report in exchange for you paying. If you could PIF, then this might be much easier to do.

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Tryin2rebuild08 wrote:

If you get a new collection letter from a CA and they have not posted the Collection to any of CRAs as yet, but they send you a payment plan to pay monthly. If you pay monthly, will this prevent them from adding it to your report?

Next Scenerio, a few weeks ago, I mentioned my CO chase cr card, but when I contacted them they advised me that the account is closed and I need to contact the CA. All I have for the CA is the number and the name, yet they CA has not contacted me neither by phone or mail. I'm also not seeing them on my credit report. I would hate for them to show up now my scores are increasing. If I contact them and make arrangements to pay, will they still add the account to my reports?

I'm trying to avoid these two new collections on my reports, your help is appreciated.

Thanks

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[Tryin2rebuild08]

Thanks Sidewinder. I really can't pay these in a lump sum. One is $4,000 bal from my college and the other is $2500 chase charge off. Well I'll pray and keep my fingers crossed to see what I can work out with them.