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Is This A Good Deal Or Not?

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James23
New Member

Is This A Good Deal Or Not?

Hi Everyone,

 

I was speaking to a debt collector, and to make a long story short she told me that they cannot guarantee that the credit bureaus would remove the negative mark on my  credit report. She told me that they can only put in the request to have it removed..

 

I told her that I needed to have this in writing before I pay, she said would give it to her manager to sign.

 

What do you guy's think about this agreement? Should I just go ahead print up a contract stating the above, or should I simply wait for the SOL to expire (which is in 4 years)?

 

Also, if I do pay them, would I even be able to call the credit bureaus to see if they requested it to be deleted? (To make sure they kept their end of the bargain)

Message 1 of 9
8 REPLIES 8
guiness56
Epic Contributor

Re: Is This A Good Deal Or Not?

It isn't up to the CRAs, it is up to the creditor/CA to have the TL deleted.

 

What SOL are you referring to, CRTP or your state SOL for suing?

 

 

Message 2 of 9
James23
New Member

Re: Is This A Good Deal Or Not?

Thanks for the reply,


That's what I thought.. They did not want to sign the original contract because they keep telling me that they can't guarantee that the CRA's will remove the mark. All they keep saying is that they will put in the request. Seeing as how the CA are the one's who put the mark, there shouldn't be a problem for them to remove it...

 

This is why I wanted to know if I called the CRA's and ask them if "pmsicollects" requested the removal of the TL from my file, would the give me this information? I need someway to verify that they actually requested the removal and not simply marked it as paid and latter tell me "O well, we tried" and in reality they didn't.

 

As for the SOL, I was talking about the SOL for any debt owed, I thought it must be removed automatically from your credit report after 7 years?

 

 

Message 3 of 9
guiness56
Epic Contributor

Re: Is This A Good Deal Or Not?

A collection or CO is removed up to 7.5 years from the DoFD.

 

Sometimes that is a chance you have to take but with them telling you it is up to the CRAs would make their word seem doubtful.

 

I don't know if the CRAs would give you that information or not.

Message 4 of 9
James23
New Member

Re: Is This A Good Deal Or Not?

Do you think it would be wise to even deal with them or should I just simply leave it alone and wait for it to drop off my credit report?

 

Just for the simple fact that they cannot "guarantee" the removal makes me feel extremely uncomfortable because in the agreement that they are willing to sign, it says that there is no guarantee that it will be removed and that might be enough to cover their ass in court incase it lead to that point..

Message 5 of 9
guiness56
Epic Contributor

Re: Is This A Good Deal Or Not?

Message 6 of 9
James23
New Member

Re: Is This A Good Deal Or Not?

Yes, I am.

Message 7 of 9
guiness56
Epic Contributor

Re: Is This A Good Deal Or Not?

I would pay them and if they don't remove it as you were verbally told they would, file a compalint with the BBB.

 

With it still being in SOL they could easily sue you and you don't want a judgment.

Message 8 of 9
bfranklin825
Valued Member

Re: Is This A Good Deal Or Not?

A creditor does have the power to remove a bad mark from your report. The reporting agencies only report what creditors report to them. I had a $7 phone bill that I never knew about show up as a collection on my report once... I called the phone company and explained that I had no idea I owed it and then I paid it. The nice phone lady said that she would remove the record (without even being asked) and the bad mark was removed the NEXT DAY.

 

Don't ever let a creditor tell you they can't remove something or don't know if it will come off...


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