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New Visitor
tepa1967
Posts: 3
Registered: ‎02-13-2009

Collection offer letter..what to do

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? 

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Collection offer letter..what to do


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? 


 

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.

New Visitor
tepa1967
Posts: 3
Registered: ‎02-13-2009

Re: Collection offer letter..what to do

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.

Moderator Emeritus
HappyDays
Posts: 7,326
Registered: ‎06-18-2007

Re: Collection offer letter..what to do

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

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