Is it wrong for ME to make a settlement offer?

[flinjami83]

Usually I know the company initiates a settlement agreement, but I have a medical account I want removed. Is it acceptable for me to make an offer to settle my account since I can't PIF? I know it will update to "settled" or whatever on my CR, but I'll deal with that later....

[guiness56]

Yes, you can.  You can also ask for a settlement for a deletion.  You may pay a bit more but anything is possible.

[LIGHTNIN]

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@guiness56 wrote:

Yes, you can.  You can also ask for a settlement for a deletion.  You may pay a bit more but anything is possible.

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+1, Try to get the settlement in writing before paying.

Oh and also have it say something like this....." paid less then full amount but considered Paid in Full".

[RobertEG]

It is not what they say that is, in my opinion, important, it is what they dont say.

As long as they accept any payment as satisfaction of the debt, they are required to report paid, and update the debt balance to $0.

What you dont want is the additional reporting of paid for less, in any form.  The addition of that special comment tells all that you did not pay the entire amount of the debt that you incurred.

Agreement not to report paid for less will make your credit report appear the same to those reviewing it as if the debt were paid in full.

Absence of reference to terms of payment provides no basis for any inference of how much was paid to obtain the satisfaction.

[flinjami83]

Great advice! Thanks everyone! I am re-writing my settlement letter to include the agreement that it will be reported as "Paid in Full". 

[RobertEG]

..... better terminology might be their agreement not to make any reporting of paid for less.

[flinjami83]

Got it! So crazy how you word things can make all the difference!
Ok, rewrote it for the third time!
Third time's a charm, right?