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Good Evening,
I just got married last month. As I/m reviewing our credit picture with my wife, we find the she had an account with BrightHouse Networks cable company in the Tampa Bay Area. She moved to the Miami area about 18 months ago. She did not return the cable box (she stil has it) There is now a collection on her credit report with an UNPAID status for $687.00. It was assiged to Credit Protection Associates in Dec 2013.
Is it possible to negotiate the return of the equipment, payment of any past due amounts in exchange for removal of COLLECTION information from her credit report?
I see people mentioning Good WIll Letters and Pay for Delete agreements but I don't understand how that works or how to do it.
If this is applicable to our case, Can somebody explain how to do it in simple terms?
Thank you all very much,
Poquelin
Definitely return the equipment and talk to them. They may be willing to recall the collection and let you just pay them (much less because the box bears most of the cost)
Once a debt collector has reported their collection, it can be removed in one of two ways.
First, you can make an offer to pay them, conditional upon their agreement to delete their reported collection.
That is a "pay for delete" offer.
Second, you can contact the OC, if the still own the debt, and offer to pay the OC, conditional upon the OC's agreement to first terminate the collection authority assigned to the debt collector. Termiantion prior to payment of the debt then requires the debt collector, under CRA reporting policy, to delete their collection.
Simply paying the OC does not require the debt collector to delete their collection if they still have collection authority when the debt is paid.
The OC is required to notify the debt collector to cease continued collection, requiring the debt collector to close their collection and update the amount under collection to $0.
CRA policy is that a debt collector should not delete their collection based on payment of the debt.
The more direct route is to offer a PFD to the debt collector, as the OC may not agree to terminate their assigned collection prior to your satisfaction of the debt.
However in your situation, contact with the OC would first be beneficial is only to reduce the amount of the debt by return of the equipment.