Cringing to pay or not

[vmoore0607]

I have a collection account from Debt Recovery Solutions. They sent me a letter today with a settlement offer. They are due to come off my credit report in December 15. However, I want to buy a home in March/April. This is one of the few collections I have on my account. I want to pay it so I don't have to run into any problems when trying to obtain a mortgage. But I want to get it off my CR.

Is it possible to call with a PFD? I would like to get it taken care of. What is the best approach?

[gdale6]

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@vmoore0607 wrote:
I have a collection account from Debt Recovery Solutions. They sent me a letter today with a settlement offer. They are due to come off my credit report in December 15. However, I want to buy a home in March/April. This is one of the few collections I have on my account. I want to pay it so I don't have to run into any problems when trying to obtain a mortgage. But I want to get it off my CR.

Is it possible to call with a PFD? I would like to get it taken care of. What is the best approach?

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Some call with PFD offers but the best way is via mail so you have a paper trail. If they wont do PFD and its not updating monthly dont pay it till after your mortage people run the app, if its not updating its aging in the eyes of Fico updating it to show Paid will drop Fico as it looks new in Ficos eyes.

[Anonymous]

Also if its a relatively small amount, mortgage lenders may not care about it, but if its large they may require it to be paid.

Do you know what the SOL is in your state on this debt?

[Anonymous]

I know and agree a paper trail is the best bet. However, I negotiaTed a 5k PFD over the phone allowing them to fax on a letterhead stating the removal on all 3 bureaus. They told me they couldnt do this at first bease it was accurate reporting but I reminded them that it wasn't necessary reporting.

[Anonymous]

Sorry for the typos

[Anonymous]

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@Anonymous wrote:
I know and agree a paper trail is the best bet. However, I negotiaTed a 5k PFD over the phone allowing them to fax on a letterhead stating the removal on all 3 bureaus. They told me they couldnt do this at first bease it was accurate reporting but I reminded them that it wasn't necessary reporting.

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Correct - there's nothing inaccurate about 'no report'

[vmoore0607]

I believe it's 6 years. The total is $400 and it is updating