Rebuilding Your Credit

[tepa1967]

Newly joined and have a couple of questions:

I am in the middle of repairing my credit by negotiating a couple of collection accounts.

I received an offer letter from NCO financial williing to accept 50% of the outstanding debt whcih I can pay.

it does give you the option of paying  it via on-line. so my question is.

Do I pay it online and will they automatically send a letter to the credit reporting on their own or should I call them and get them to agree to send a letter to the CR companies

Thanks;

P.S. I did negotiate a settlement on another debt in an installemnt plan and gave them my bank info to withdraw..did I do okay on this? 

[llecs]

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tepa1967 wrote:

Newly joined and have a couple of questions:

I am in the middle of repairing my credit by negotiating a couple of collection accounts.

I received an offer letter from NCO financial williing to accept 50% of the outstanding debt whcih I can pay.

it does give you the option of paying  it via on-line. so my question is.

Do I pay it online and will they automatically send a letter to the credit reporting on their own or should I call them and get them to agree to send a letter to the CR companies

Thanks;

P.S. I did negotiate a settlement on another debt in an installemnt plan and gave them my bank info to withdraw..did I do okay on this? 

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Welcome to the forums!

If NCO is willing to accept 50%, and if you have the $$$ to pay, then DV them if you haven't done so and if they verify, then offer a PFD for the 50%. If they accept the PFD, do not pay online, but send a certified check or money order. Paying a CA won't get it deleted unless they agree to a PFD.

Never give out your banking info to a CA. And never talk to a CA and get everything in writing beforehand. I always recommend saving up the $$$ before negotiating anything.

[tepa1967]

thanks for the advise.

I am just trying to clear all my debts in order to get a home this year..don't know if it's even going to be possible but I am somewhat desperate to get all this cleaned up.

[HappyDays]

Check your state for collections laws. If the CA must be licensed or bonded....are they?  Know what your SOL is before doing anything!