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Collections Offer to Settle

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gordana626
New Member

Collections Offer to Settle

I recently received an offer from a collection agency for a debt that is still on my credit report.  The offer was for 20% of the value of the outstanding amount and stated that if I pay, they would update my credit report with all 3 agencies to show "Account Paid in Full". 

 

If I can gather the money, do you think this is a good deal?  Or should I just wait a couple more years and wait for it to drop off my report on its own?

Message 1 of 4
3 REPLIES 3
baller4life
Super Contributor

Re: Collections Offer to Settle

Paid status scores no different than unpaid. You want it REMOVED. Send them a pfd letter for the settlement amt they offered.
Message 2 of 4
Anonymous
Not applicable

Re: Collections Offer to Settle


@baller4life wrote:
Paid status scores no different than unpaid. You want it REMOVED. Send them a pfd letter for the settlement amt they offered.

+1

Message 3 of 4
gordana626
New Member

Re: Collections Offer to Settle

Thanks for the advice.  I'll give it a shot and see what happens.

Message 4 of 4
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