How to get rid of debts in collections?

Maiku · ‎06-01-2010

Hello Everyone,

I am trying to rebuild my credit score. I was in a lot of financial trouble and working to get rid of all my debts. Originally, I have 10 debts account... I have paid them all except these three debts currently in collections.

1. "Natlcrsys" was hired to collect a debt of $3,144 originally owed to "xxx Apartment"

2. "Nco Fin /27" was hired to collect a debt of $70 originally owed to " Bank Of America"

3. "Nco Fin/55" was hired to collect a debt of $529 originally owed to XXX Comm College

How should I resolved these accounts without paying the entire amount?

Thanks for your time.

Maiku

Anonymous · ‎06-01-2010

I'd start with the smaller one and offer a PFD, in writing! Although this will work better if you offer the full amount. I've read on here that NCO is more than willing to delete upon payment. Good luck!

RobertEG · ‎06-01-2010

Hi Maiku, and welcome the forum.

First, you only get rid of debt in one way. You pay it. Debt lives forever.

What this site can give you is advice on how long account reportings of derogs based on the debt can remain in your CR, how to secure earliest possible removal of those derogs from futrure credit reports, and how to protect against legal actions for collection of the debt.

How you "resolve"collection activities against a debt is a very complex issue, and I wont confuse you with details.

But to get any concrete advice on the forum, you need to tell us several basic things:

For each collection account, when did you first go delinquent on the original creditor account that then resulted in the collection?

Does the original creditor still own the debt, or did they sell it to a CA? Thus, how, aand whom, to try to pay for removal.

When did each collection agency send you a collection ("dunning") notice, and if they did, how and when did you respond?

What is your state statute of limitations on debt?

I know this a lot to throw at you, but until all of that is known, you will only have garbage in info for the numerous factors affecting debt payment, and thus garbage advice out.